The EU risks running out of steam over sanctions on Russian oil and gas
2 years, 9 months ago

The EU risks running out of steam over sanctions on Russian oil and gas

The Telegraph  

The European Union is showing worrying signs of reverting to type after it surprised the world, and perhaps even itself, with its unified response to the war in Ukraine. Brussels has hit Moscow with four rounds of sanctions on 877 oligarchs and Russian officials, including Vladimir Putin, and 62 businesses, airlines, banks and other entities. EU sanctions require the unanimous support of all 27 member states, which is why the bloc has been criticised as slow and ineffectual when faced with international crises. Member states are divided over whether to expand EU sanctions to hit Russian oil and gas. Russia supplies the EU with 40 per cent of its gas, with countries such as Germany and Italy particularly dependent on supplies, and about a quarter of its crude oil.

Russia Russian  sanctions  russian  hit  running  risks  oil  steam  eu  moscow  dependent  worrying  gas  supplies  states

History of this topic

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet
1 week, 1 day ago

EU slaps sanctions on dozens more Russian officials and targets its shadow oil and gas fleet

Associated Press  

BRUSSELS — The European Union on Monday imposed fresh sanctions on dozens of officials linked to Russia’s war on Ukraine, including two top North Korean defense officials, a military unit blamed for an attack on a Kyiv children’s hospital and the heads of companies in the energy sector. Russia’s vast shadow fleet of ships that Moscow is exploiting to skirt …

Russia signs $13bn-a-year oil deal with India in blow to Western sanctions
1 week, 5 days ago

Russia signs $13bn-a-year oil deal with India in blow to Western sanctions

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Russian state-owned oil firm Rosneft …

EU targets Russia’s ghost fleet shipping oil in a new round of sanctions
Trending News
1 week, 6 days ago

EU targets Russia’s ghost fleet shipping oil in a new round of sanctions

Associated Press  

BRUSSELS — European Union envoys have agreed a new raft of sanctions against Russia over its war on Ukraine, targeting in particular a vast shadow fleet of ships that Moscow is exploiting to skirt restrictions on transporting oil and fuel, the EU’s Hungarian presidency said on Wednesday. The sanctions are aimed at about 50 of what are routinely decrepit ships …

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump
1 week, 6 days ago

US Considers New Russia Oil Sanctions to Weaken Putin Ahead of Trump

Deccan Chronicle  

The Biden administration is weighing new, harsher sanctions against Russia’s lucrative oil trade, seeking to tighten the squeeze on the Kremlin’s war machine just weeks before Donald Trump returns to the White House.Details of the possible new measures were still being worked out, but President Joe Biden’s team was considering restrictions that might target some Russian oil exports, according to …

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war
1 month ago

The biggest remaining unsanctioned Russian bank hit with U.S. sanctions, nearly three years into war

Associated Press  

WASHINGTON — Russia’s third largest bank, Gazprombank and its six foreign subsidiaries were hit with U.S. sanctions on Thursday — in a move intended to curtail Russia’s ability to evade the thousands of sanctions imposed on the nation since the start of Russia’s invasion of Ukraine in February 2022. Treasury Secretary Janet Yellen said the sanctions targeting Russia’s largest remaining …

EU targets Russia’s ‘ghost fleet’, expresses concern over its ‘hybrid attacks’
6 months ago

EU targets Russia’s ‘ghost fleet’, expresses concern over its ‘hybrid attacks’

The Hindu  

The European Union on June 24 slapped new sanctions on Russia over its war on Ukraine, targeting Moscow’s shadow fleet of tankers moving liquefied natural gas through Europe. At a meeting in Luxembourg, where the sanctions were endorsed, EU Foreign Ministers also expressed concern about a rise in hybrid attacks by Russia — including allegations of election interference, cyber-attacks and …

EU targets LNG sector in new sanctions against Russia
6 months ago

EU targets LNG sector in new sanctions against Russia

Al Jazeera  

Latest package bars re-exports of Russian LNG via Europe, but experts say measure will have little effect. The bloc’s latest package, the 14th since Russia launched its full-scale invasion of Ukraine, would “strip Russia of further energy revenues”, said European Commission President Ursula von der Leyen on Thursday in a post on X. Gas market experts say the ban will …

EU moves toward using profits from frozen Russian assets to help Ukraine, but slowly
10 months, 3 weeks ago

EU moves toward using profits from frozen Russian assets to help Ukraine, but slowly

Associated Press  

BRUSSELS — European Union nations have decided to approve an outline deal that would keep in reserve the profits from hundreds of billions of dollars in Russian central bank assets that have been frozen in retaliation for Moscow’s war in Ukraine, an EU official said. The tentative agreement, reached late Monday, still needs formal approval but is seen as a …

Sanctions on Russian oil have failed. Were they ever meant to succeed?
1 year ago

Sanctions on Russian oil have failed. Were they ever meant to succeed?

Al Jazeera  

Last December, the European Union banned imports of Russian crude oil in a bid to starve the Russian war machine into submission over its invasion of Ukraine. Sanction-proof tankers Anticipating this, the EU, along with the G7, last year placed a $60-per-barrel price cap on Russian oil sold to third parties. “It’s basically a sanction-proof tanker.” Western protection-and-indemnity-insured tankers dropped …

The European Union targets Russia’s diamond industry in its latest round of Ukraine war sanctions
1 year ago

The European Union targets Russia’s diamond industry in its latest round of Ukraine war sanctions

Associated Press  

BRUSSELS — The European Union said Monday that it has imposed fresh sanctions on Russia over its war against Ukraine, targeting the lucrative diamonds industry, more than 140 officials and organizations, and closing loopholes that Moscow has used to bypass previous punitive measures. It’s the 12th round of sanctions and restrictions that the EU has slapped on Russia since President …

EU moves closer to imposing a new set of sanctions on Russia for its war on Ukraine
1 year, 1 month ago

EU moves closer to imposing a new set of sanctions on Russia for its war on Ukraine

Associated Press  

BRUSSELS — The European Union’s executive said Wednesday it proposed to the member states a new package of sanctions targeting the Kremlin and its associates, seeking to tighten previous measures approved since the February 2022 invasion of Ukraine as well as adding dozens of economic operators. The proposal sets in motion final talks between the 27 member states to reach …

G7 weighs new sanctions on Russia to end Ukraine war
1 year, 7 months ago

G7 weighs new sanctions on Russia to end Ukraine war

Al Jazeera  

Existing sanctions are some of the toughest ever imposed on a major economy, but there is still room to increase pressure. “The most important areas include oil and energy more broadly, non-energy trade sanctions and closing loopholes in this area, and technology sanctions.” A key focus of the G7 members – the United States, Canada, Japan, the United Kingdom, France, …

Despite sanctions, EU keeps on doing business with Russia
1 year, 8 months ago

Despite sanctions, EU keeps on doing business with Russia

Al Jazeera  

Much trade still flows between the bloc’s 27 countries and Russia, partly because some in the EU are unwilling to take a harder economic hit. Trade flows In 2021, Russia was the EU’s fifth-largest trading partner with goods exchange worth 258 billion euros, according to the EU executive European Commission. In total, the EU imported 171 billion euros worth of …

Russia’s economy holds up, but growing challenges test Putin
1 year, 9 months ago

Russia’s economy holds up, but growing challenges test Putin

Associated Press  

Western sanctions have hit Russian banks, wealthy individuals and technology imports. Economists say sanctions on Russian fossil fuels only now taking full effect — such as a price cap on oil — should eat into earnings that fund the military’s attacks on Ukraine. “We have had even worse periods of time in history, and we coped,” he said, but added …

EU slaps sanctions on top Russia officials, banks, trade
1 year, 9 months ago

EU slaps sanctions on top Russia officials, banks, trade

The Hindu  

The European Union agreed Saturday to impose new sanctions on Russia over its invasion of Ukraine targeting more officials and organizations accused of supporting the war, spreading propaganda or supplying drones, as well as restricting trade on products that could be used by the armed forces. Transactions with some of Russia’s largest banks are also prohibited.” Asset freezes were slapped …

European Union agrees new round of sanctions over Russia's war in Ukraine
1 year, 10 months ago

European Union agrees new round of sanctions over Russia's war in Ukraine

Firstpost  

Brussels, Belgium: The EU agreed to a new round of sanctions over Russia’s war in Ukraine on the one-year anniversary of Moscow’s invasion, the bloc’s Swedish presidency announced. The package – the 10th the EU has imposed since Russia’s 24 February 2022 invasion – contains, it said, “targeted restricted measures against individuals and entities supporting the war, spreading propaganda or …

EU approves 10th package of sanctions on Russia over Ukraine war
1 year, 10 months ago

EU approves 10th package of sanctions on Russia over Ukraine war

Al Jazeera  

EU sanctions were designed to make financing the war more difficult for Russia, as well as starve it of tech equipment and spare parts. The latest round of sanctions provides for additional trade restrictions on Russia, the Swedish EU Council Presidency announced in Brussels on Friday evening, and are designed to make financing the war more difficult as well as …

EU approves 10th package of Russia sanctions on anniversary of invasion
1 year, 10 months ago

EU approves 10th package of Russia sanctions on anniversary of invasion

The Hindu  

The European Union, after hectic last-minute haggling, has approved a tenth package of Russia sanctions on the anniversary of Moscow's invasion of Ukraine, the Swedish EU Presidency said late on Friday. "Together, the EU member states have imposed the most forceful and far-reaching sanctions ever to help Ukraine win the war," the Presidency announced on Twitter. The package includes tighter …

EU hits Russia with 10th package of sanctions one year after Ukraine invasion
1 year, 10 months ago

EU hits Russia with 10th package of sanctions one year after Ukraine invasion

Live Mint  

European Union member states backed a 10th package of sanctions on Russia including tighter export restrictions and technology controls, as well as requiring banks to report information on Russian Central Bank and other sanctioned assets they hold. The bloc’s envoys signed off on the measures Friday, the Swedish presidency of the EU said in a tweet as it sought to …

EU weighs new powers to hit those helping Russia evade sanctions
1 year, 10 months ago

EU weighs new powers to hit those helping Russia evade sanctions

Firstpost  

The new powers may include issuing warnings to people or companies outside and in the EU that are helping Russia get around sanctions and giving the bloc the ability to act where this relates to products used against Ukraine in battle, according to a report New Delhi: A number of European Union member states are urging the block to strengthen …

EU prepares more Russia sanctions; Kremlin readies offensive
1 year, 10 months ago

EU prepares more Russia sanctions; Kremlin readies offensive

Associated Press  

KYIV, Ukraine — The European Union will unveil its 10th package of sanctions against Russia on Feb. 24 to mark the anniversary of Moscow’s full-scale invasion of Ukraine, a senior official from the bloc said in Kyiv on Friday, as Ukrainian forces gird for an expected Russian offensive in the coming weeks. Among the dead were two brothers, ages 49 …

New EU sanctions target Russian military-industrial complex
2 years ago

New EU sanctions target Russian military-industrial complex

Associated Press  

BRUSSELS — The European Union said Friday its latest round of sanctions will hit Russia’s military-industrial complex, as well as people and groups that are attacking Ukrainian civilians or kidnapping children. “We will continue targeting the economy and against those who are instrumental in this brutal war.” European Commission President Ursula von der Leyen said the package will “push the …

EU to discuss Russia, Iran sanctions, top up of Ukraine arms fund
2 years ago

EU to discuss Russia, Iran sanctions, top up of Ukraine arms fund

The Hindu  

European Union foreign ministers will meet on December 12 to try to agree on further sanctions on Russia and Iran and an additional 2 billion euros for arms deliveries to Ukraine. "There is agreement, in principle, but there's also the big elephant in the room," a senior EU diplomat told reporters, referring to Budapest's use of its veto power. Foreign …

EU agrees on price cap for Russian oil over Ukraine war
2 years, 2 months ago

EU agrees on price cap for Russian oil over Ukraine war

Associated Press  

BRUSSELS — European Union countries agreed Wednesday to impose a price cap on Russian oil and other new sanctions after Moscow illegally annexed four regions in Ukraine amid its monthslong war, EU officials said. The 27-nation bloc will impose a ban on transporting Russian oil by sea to other countries above the price cap, which the Group of Seven wealthy …

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine
2 years, 2 months ago

EU Proposes New Russia Sanctions Including Oil Price Cap Over Latest 'Escalation' in Ukraine

News 18  

The EU’s executive on Wednesday proposed a new round of sanctions on Moscow over its latest “escalation” in Ukraine, including an oil price cap and ban on Russian exports worth seven billion euros. “Last week, Russia has escalated the invasion of Ukraine to a new level,” European Commission President Ursula von der Leyen said. As part of the new round …

EU plans Russia trade sanctions over ‘sham’ Ukraine votes
2 years, 2 months ago

EU plans Russia trade sanctions over ‘sham’ Ukraine votes

Associated Press  

BRUSSELS — European Union countries should impose “biting sanctions” on Russian trade and hit officials responsible for “sham referendums” held in parts of Ukraine as Moscow ramps up the war, senior EU officials said Wednesday. European Commission President Ursula von der Leyen said the Kremlin-orchestrated referendums on joining Russia “are an illegal attempt to grab land and change international borders …

EU plans new package of biting sanctions against Russia
2 years, 2 months ago

EU plans new package of biting sanctions against Russia

India TV News  

Russia-Ukraine War: European Union countries should impose “biting sanctions” on Russian trade and hit officials responsible for “sham referendums” held in parts of Ukraine as Moscow ramps up the war, senior EU officials said Wednesday. European Commission President Ursula von der Leyen said the Kremlin-orchestrated referendums on joining Russia “are an illegal attempt to grab land and change international borders …

EU talks up Russia sanctions but consensus may prove elusive
2 years, 3 months ago

EU talks up Russia sanctions but consensus may prove elusive

Associated Press  

BRUSSELS — The European Union appears determined to respond to new Russian attempts to annex parts of Ukraine with more sanctions, but finding a consensus among member countries is becoming increasingly difficult as measures meant to punish Moscow bite into their own economies. EU foreign policy chief Josep Borrell said Wednesday that “Russia, its political leadership, and all those involved …

EU wants price cap on Russian gas, energy companies to pay
2 years, 3 months ago

EU wants price cap on Russian gas, energy companies to pay

Associated Press  

BRUSSELS — European Union countries should set a price cap on Russian natural gas and seek a “solidarity contribution” from European oil and gas companies making extraordinary profits as the war in Ukraine drives up energy costs, European Commission President Ursula von der Leyen said Wednesday. “We are facing an extraordinary situation, because Russia is an unreliable supplier but also …

Opinion: Putin’s extortion must not succeed
2 years, 3 months ago

Opinion: Putin’s extortion must not succeed

CNN  

Editor’s Note: David A. Andelman, a contributor to CNN, twice winner of the Deadline Club Award, is a chevalier of the French Legion of Honor, author of “A Red Line in the Sand: Diplomacy, Strategy, and the History of Wars That Might Still Happen” and blogs at Andelman Unleashed. The front page of France’s Le Monde newspaper on Monday carried …

Europe can withstand Russia’s energy threats
2 years, 4 months ago

Europe can withstand Russia’s energy threats

Al Jazeera  

But it needs to urgently take some necessary – and at times politically risky – steps to secure alternative supplies. Russia’s brutal invasion of Ukraine and the consequent geo-economic war between the Kremlin and the West disrupted global gas markets at a scale unprecedented in recent history. The Kremlin’s use of its power over energy markets as leverage – and …

Russia Resumes 'Unstable' Gas Supplies to Europe via Nord Stream
2 years, 5 months ago

Russia Resumes 'Unstable' Gas Supplies to Europe via Nord Stream

News 18  

Russia on Thursday restored critical gas supplies to Europe through Germany via the Nord Stream pipeline after 10 days of maintenance, but uncertainty lingered over whether the Kremlin would still trigger an energy crisis on the continent this winter. Germany, which is heavily dependent on Russian gas, had feared that Moscow would not reopen the pipeline after the scheduled work …

EU moves closer to imposing more sanctions on Russia
2 years, 5 months ago

EU moves closer to imposing more sanctions on Russia

The Hindu  

The European Union moved closer to imposing more sanctions on Russia after its 27 ambassadors backed a series of measures to ban gold imports and tighten export controls on some high-technology goods. EU officials have been seeking all week to tighten the extensive package of sanctions on Russia and looking at ways to add a ban on gold exports in …

Putin warns EU that gas supplies could keep dwindling
2 years, 5 months ago

Putin warns EU that gas supplies could keep dwindling

Associated Press  

MOSCOW — Russian President Vladimir Putin said Tuesday it is the West’s own fault that the flow of Russian natural gas to European customers has dwindled and warned that it could continue ebbing. Speaking to Russian reporters in Tehran, where he attended the talks with the leaders of Iran and Turkey, Putin said the amount of gas pumped through the …

EU proposes new sanctions on Russian gold exports
2 years, 5 months ago

EU proposes new sanctions on Russian gold exports

Al Jazeera  

The move follows a decision taken by the world’s most industrialised nations at a G7 meeting in late June. The European Union is set to target Russian gold exports in an update to its sanctions packages while further tightening previous measures on Moscow amid the continuing war in Ukraine. The EU has so far approved six packages of sanctions on …

Russia may cut off gas completely, Europe must act now, IEA warns
2 years, 6 months ago

Russia may cut off gas completely, Europe must act now, IEA warns

Al Jazeera  

Head of IEA says Europe needs ‘contingency plans’ as Russia may further reduce gas deliveries amid its war in Ukraine. Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage during the Ukraine crisis, the head of the International Energy Agency said, adding Europe needed to prepare now. “I wouldn’t rule out Russia continuing …

‘Big blow to Putin’s war’: Sanctions approved on Russian oil
2 years, 6 months ago

‘Big blow to Putin’s war’: Sanctions approved on Russian oil

Al Jazeera  

A sixth round of European Union sanctions targeting Russian oil, banks, and military officials entered into force on Friday. The punitive measures against the Kremlin for invading Ukraine come into legal effect after long, drawn-out negotiations to convince Hungary and other landlocked EU countries to agree to a partial ban on Russian oil. EU foreign policy chief Josep Borrell said …

EU approves sanctions targeting Russian oil and Sberbank
2 years, 6 months ago

EU approves sanctions targeting Russian oil and Sberbank

Al Jazeera  

The bloc drops the leader of Russia’s Orthodox Church from a proposed blacklist after Hungary opposes the move. The European Union has given its final approval to new sanctions on Russian oil and top bank Sberbank, after much wrangling with Hungary, as punishment for Russian President Vladimir Putin’s February 24 invasion of Ukraine. The sixth round of sanctions also included …

EU must approach Russia sanctions differently: Dutch PM after difficult oil boycott
2 years, 6 months ago

EU must approach Russia sanctions differently: Dutch PM after difficult oil boycott

NL Times  

The EU must change its approach if it starts a new package of punitive measures against Russia, said Prime Minister Mark Rutte. Orban accused the EU's executive board of "irresponsible behavior" for proposing sanctions without first coordinating it with the Member States. The EU Member States agreed to ban imports of Russian oil shipped to the EU by sea, affecting …

European Union wrestles with Russia oil embargo as leaders gather
2 years, 6 months ago

European Union wrestles with Russia oil embargo as leaders gather

Firstpost  

The EU has already slapped five rounds of sanctions on Russia over its actions in Ukraine. It’s targeted more than 1,000 people, including President Vladimir Putin and top government officials Brussels: European Union leaders will gather Monday in a new show of solidarity with Ukraine but divisions over whether to target Russian oil in a new series of sanctions are …

Oil climbs on tight supply, prospect of EU ban on Russian supply
2 years, 6 months ago

Oil climbs on tight supply, prospect of EU ban on Russian supply

The Hindu  

Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union wrangles with Hungary over plans to ban imports from Russia, the world's second-largest crude exporter, after it invaded Ukraine. is getting price supportive as the driving season is approaching and will turn even more bullish once the EU sanctions on …

EU unveils $220bn plan to ditch Russian energy
2 years, 7 months ago

EU unveils $220bn plan to ditch Russian energy

Al Jazeera  

Brussels plans to spend $314bn by 2030 to end its dependency on Russian oil and gas imports. Taken together, Brussels expects them to require 210 billion euros in extra investments by 2027 and 300 billion euros by 2030 on top of those already needed to meet the bloc’s 2030 climate target. The Commission said some investments in fossil fuel infrastructure …

Putin: Europe’s Russia sanctions tantamount to ‘economic suicide’
2 years, 7 months ago

Putin: Europe’s Russia sanctions tantamount to ‘economic suicide’

Al Jazeera  

By seeking to phase out Russian energy supplies, Europe will only hurt itself, Russian President Vladimir Putin warned. Russian President Vladimir Putin on Tuesday said the oil sector was undergoing a “tectonic change”, but claimed Europe would be committing “economic suicide” with its sanctions on Moscow over Ukraine. By seeking to phase out Russian energy supplies, Europe will only hurt …

EU’s Russia sanctions effort slows over oil dependency
2 years, 7 months ago

EU’s Russia sanctions effort slows over oil dependency

Associated Press  

BRUSSELS — The European Union’s efforts to impose a new round of sanctions against Russia over the war in Ukraine appeared to bog down on Monday, as a small group of countries continued to oppose a ban on Russian oil imports. But limiting Russia’s energy income by weaning the EU’s dependency on Russian oil — not to mention Russian gas …

'Mounting tensions' could see EU shelve Russia oil embargo
2 years, 7 months ago

'Mounting tensions' could see EU shelve Russia oil embargo

The Telegraph  

Brussels could shelve its plans for an embargo on Russia oil imports amid mounting tensions over the bloc’s attempts to roll out a sixth package of economic sanctions against Moscow. Hungary has refused to back further measures against Russia’s energy sector, which has prevented the bloc from targeting more oligarchs and banks to ramp up pressure on the Kremlin over …

Why is Hungary not backing EU sanctions on Russian oil?
2 years, 7 months ago

Why is Hungary not backing EU sanctions on Russian oil?

Al Jazeera  

Hungary, which depends on Russia for the bulk of its oil and gas needs, says sanctions will adversely affect its economy. As the European Union tries to impose sanctions on Russian oil over the war in Ukraine, Hungary has emerged as one of the biggest obstacles to unanimous support needed from the bloc’s 27 member nations. Hungary is heavily reliant …

EU wrangles over details of Russia oil embargo
2 years, 7 months ago

EU wrangles over details of Russia oil embargo

The Hindu  

European diplomats were locked in difficult negotiations on the terms of the EU’s sixth round of sanctions against Russia on Sunday, with several members seeking guarantees for their oil supplies. The package suggested last week by the European Commission would have seen most EU members halting oil imports from Russia by the end of the year, to punish Moscow for …

EU proposes phased Russian oil embargo, more sanctions
2 years, 7 months ago

EU proposes phased Russian oil embargo, more sanctions

The Hindu  

The EU proposed its toughest sanctions yet against Russia on Wednesday, including a phased oil embargo, as Ukraine came under further heavy Russian bombardment and nervously monitored large-scale army drills in neighbouring Belarus, a close Moscow ally. Piling pressure on Russia’s already battered $1.8 trillion economy, the European Commission proposed phasing out supplies of Russian crude oil within six months …

EXPLAINER: What’s the impact if Europe cuts off Russian oil?
2 years, 7 months ago

EXPLAINER: What’s the impact if Europe cuts off Russian oil?

Associated Press  

The European Union’s executive commission has proposed phasing out imports of Russian oil within six months. The EU sends $450 million a day to Russia for oil and $400 million per day for natural gas, according to calculations by analysts at the Bruegel think tank in Brussels. Europe is the biggest purchaser of Russian crude, receiving 138 million tons in …

EU leader calls for Russian oil ban in new set of sanctions
2 years, 7 months ago

EU leader calls for Russian oil ban in new set of sanctions

NPR  

EU leader calls for Russian oil ban in new set of sanctions Enlarge this image toggle caption Jean-Francois Badias/AP Jean-Francois Badias/AP BRUSSELS — The European Union's top official on Wednesday called on the 27-nation bloc to ban oil imports from Russia in a sixth package of sanctions targeting Moscow for its war in Ukraine. European Commission President Ursula von der …

Discover Related