The European Union (EU) has agreed on a 21st package of sanctions against Russia, after shelving some proposed measures to appease member states, most notably Greece.
The latest set of sanctions, which are aimed at squeezing Moscow’s financial system, originally included a ban on imports of Russian liquified natural gas (LNG) and a ban on the transport of Russian LNG to third countries.
But they have been watered down to allow contracts signed before Russia’s invasion of Ukraine to continue, with an annual review.
The exemption allows companies such as Greece’s Dynagas to continue transporting Russian LNG to non-EU countries.
Greece has one of the world’s largest LNG shipping fleets and the vessels cannot be easily redeployed to other trades.
Athens argued that the EU’s original measures would have meant selling the ships to non-Western buyers, without markedly decreasing Russia’s energy revenues.
Exemptions from the sanctions package were also secured for the Head of Russia’s Orthodox Church, Patriarch Krill, by Bulgaria and Vienna headquartered Raiffeisen Bank by Austria.
The EU’s top diplomat Kaja Kallas said the new measures targeted 218 individuals and entities would impact Russia’s military-industrial complex and its energy sector.
“We are hitting Putin where it hurts most: cutting off the financial lifelines he relies on to sustain his war.
“This is not the end of the road on sanctions. We are already working on the next steps. The EU must be ready to respond to any further Russian escalation,” she said in a post on X.
One of the principal measures in the new package is a price cap on Russian oil for 12 months.
The price cap allows Western companies to ship and insure Russian oil only if it is sold below a set price, aiming to reduce Moscow's revenues while keeping global oil supplies flowing.
Kallas said that the measures target 218 individuals and entities hitting more than 100 banks and cryptocurrency operators, more than 40 vessels from Russia's so-called shadow fleet, as well as several oil refineries.
The package also adds more than 50 military-industrial entities to the sanctions list, including key actors involved in producing Russia's long-range drones, she said.
The latest package still needs to be approved by EU ministers, which is expected to be a formality.
Denmark’s Security and Intelligence Service, PET, has warned that Russia is actively preparing sabotage operations against targets in t...
The Iranian Health Ministry said at least 18 people were killed and 142 others injured in U.S. airstrikes carried out between 30 August 30 and 2 Se...
The Iranian Army has again struck at U.S. bases in Kuwait and the United Arab Emirates in retaliation for U.S. attacks on southern and western part...
The U.S. has launched a fresh wave of strikes on Iran, targeting Islamic Revolutionary Guard Corps (IRGC) sites as Tehran retaliated against U.S. positions across the region, while Iranian officials said at least five people were killed and dozens wounded at a wedding near Sirik.
Russian President Vladimir Putin has said that he thinks there is a chance of a peace being reached with Ukraine. He told the Eastern Economic Forum in Vladivostok, Russia that he believed there was "a chance of finding a solution," to the conflict.
The European Union's foreign policy chief Kaia Kallas says the bloc will tighten enforcement of sanctions against Russia over its war in Ukraine. EU foreign ministers were meeting in Ireland following renewed Russian strikes on cities across Ukraine.
The Iranian Health Ministry said at least 18 people were killed and 142 others injured in U.S. airstrikes carried out between 30 August 30 and 2 September.
From mounting concerns over record global debt levels to growing tensions over China's trade surplus and Russia's return to the negotiating table, this year's G20 finance meeting in Asheville, North Carolina, highlighted the challenges confronting the global economy.
Denmark’s Security and Intelligence Service, PET, has warned that Russia is actively preparing sabotage operations against targets in the country, with defence companies supporting Ukraine seen as a particular focus.
Pakistan and Kyrgyzstan have agreed to raise bilateral trade to $200 million within two years, as Prime Minister Shehbaz Sharif concluded a three-day visit to Kyrgyzstan.
Russian President Vladimir Putin has said that he thinks there is a chance of a peace being reached with Ukraine. He told the Eastern Economic Forum in Vladivostok, Russia that he believed there was "a chance of finding a solution," to the conflict.
The latest escalation between the United States and Iran is being fought not only on the ground and at sea, but increasingly in the skies above the Gulf where a missile launch or intercepted drone can force an aircraft thousands of metres above the region to change course.
A new UNICEF report has found that around 20 million children who use the internet across 21 countries experienced sexual exploitation or abuse on digital platforms in a single year.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment