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 exposing the limits of how far the bloc can go to help the war-torn country. But Hungary is leading a group of countries – along with Slovakia, the Czech Republic and Bulgaria – that rely on Russian oil and can’t afford to take such steps. It’s targeted more than 1,000 people, including President Vladimir Putin and top government officials, as well as pro-Kremlin oligarchs, banks, the coal sector and more. The problem with hitting sea transported oil is that countries like Belgium, Germany and the Netherlands most reliant on that form would suffer a surge in oil prices, distorting competition because Hungary would still be purchasing cheaper Russian oil.

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History of this topic

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

Serbia’s main gas supplier that is controlled by Russia faces US sanctions, president says
1 week, 2 days ago

Serbia’s main gas supplier that is controlled by Russia faces US sanctions, president says

Live Mint  

BELGRADE, Serbia — The United States plans to introduce sanctions against Serbia’s main gas supplier that is controlled by Russia, Serbia’s president said Saturday. Although formally seeking European Union membership, Serbia has refused to join Western sanctions against Russia over its invasion in Ukraine, in part because of the crucial Russian gas deliveries. Vucic said that despite the embargo threat, …

Serbia’s main gas supplier that is controlled by Russia faces US sanctions, president says
1 week, 2 days ago

Serbia’s main gas supplier that is controlled by Russia faces US sanctions, president says

Associated Press  

BELGRADE, Serbia — The United States plans to introduce sanctions against Serbia’s main gas supplier that is controlled by Russia, Serbia’s president said Saturday. Although formally seeking European Union membership, Serbia has refused to join Western sanctions against Russia over its invasion in Ukraine, in part because of the crucial Russian gas deliveries. Vucic said that despite the embargo threat, …

Russia signs $13bn-a-year oil deal with India in blow to Western sanctions
1 week, 4 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, 5 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 …

Russia loosens rules for fossil fuel payments by foreign countries to bypass US sanctions
2 weeks, 3 days ago

Russia loosens rules for fossil fuel payments by foreign countries to bypass US sanctions

Firstpost  

The loosening of payment rules comes as Russia grapples with economic challenges stemming from the sanctions Russian President Vladimir Putin has eased the process of making payments for fossil fuels for foreign countries. The move to ease payments, announced Thursday in an order by President Vladimir Putin, seeks to mitigate the financial impact of new US sanctions designed to curb …

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 …

Hungary’s Orbán says sanctions on Russia will destroy EU economy
1 month, 1 week ago

Hungary’s Orbán says sanctions on Russia will destroy EU economy

Associated Press  

BUDAPEST, Hungary — The European Union must abandon its policy of sanctioning Russia for its war in Ukraine or risk causing an economic collapse, Hungarian Prime Minister Viktor Orbán told state radio on Friday. The EU has imposed several rounds of sanctions against Moscow since Russian President Vladimir Putin launched the full-scale invasion of Ukraine in 2022, targeting the energy …

Hungarian minister accuses EU of orchestrating stoppage of Russian oil through Ukraine
4 months, 3 weeks ago

Hungarian minister accuses EU of orchestrating stoppage of Russian oil through Ukraine

Associated Press  

BUDAPEST, Hungary — Hungary’s Foreign Minister Péter Szijjártó Tuesday accused the European Union’s executive commission of orchestrating a stoppage of some Russian oil supplies into the bloc through Ukraine and warned that the dispute could lead to an energy crisis. Ukraine last month adopted sanctions against Lukoil — Russia’s largest non-state firm — which prohibited the transit of its oil …

Hungary will seek solution to Ukraine oil transit impasse by September, minister says
4 months, 3 weeks ago

Hungary will seek solution to Ukraine oil transit impasse by September, minister says

Associated Press  

BUDAPEST, Hungary — Hungary will seek to resolve a dispute with Ukraine over the transfer of Russian oil by September to avoid a potential energy crisis, an aid to Hungarian Prime Minister Viktor Orbán said on Friday, Orbán’s chief of staff, Gergely Gulyás, alleged that Kyiv was “blackmailing” Budapest by blocking the transfer of some Russian crude across its territory. …

U.S., EU add sanctions on Russia for Ukraine war, Navalny’s death
10 months ago

U.S., EU add sanctions on Russia for Ukraine war, Navalny’s death

LA Times  

The United States and the European Union are piling new sanctions on Russia on the eve of the second anniversary of its invasion of Ukraine and in retaliation for the death of noted Kremlin critic Alexei Navalny last week in an Arctic penal colony. The 27-nation bloc also said that it was targeting scores of Russian officials, including “members of …

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 …

Hungary asks EU to take action against Bulgaria’s transit tax on Russian gas
1 year, 1 month ago

Hungary asks EU to take action against Bulgaria’s transit tax on Russian gas

Associated Press  

BUDAPEST, Hungary — Hungary has asked the European Union’s executive to open a legal procedure against Bulgaria over a tax it recently imposed on Russian natural gas passing through its territory, a government minister said on Friday. Bulgaria believes the tax, which it levied in October, will reduce the privileged position of Russia’s state-owned energy company Gazprom in southeastern Europe …

Serbia will increase supplies of Russian natural gas to Hungary if Ukraine pulls out of transit deal
1 year, 4 months ago

Serbia will increase supplies of Russian natural gas to Hungary if Ukraine pulls out of transit deal

Associated Press  

BUDAPEST, Hungary — Serbia will provide Hungary with increased shipments of Russian natural gas if Ukraine follows through on ending a gas transit agreement with Russia, Hungary’s foreign minister said Sunday. Speaking in a taped message, Peter Szijjarto said Serbia’s president, Aleksandar Vučić, had met with Hungarian Prime Minister Viktor Orbán in Budapest, and assured him that Serbia would be …

Hungary’s loyalties tested as Russia’s war in Ukraine grinds on
1 year, 8 months ago

Hungary’s loyalties tested as Russia’s war in Ukraine grinds on

Al Jazeera  

Budapest withdraws from a Russian-controlled bank after it was sanctioned, but ties with Western powers remain shaky. “The Hungarian government continues to maintain close relations with Russia and supports the Russian war machine in various economic ways,” US Ambassador David Pressman said on April 12. He’s also keeping Turkey aware that Hungary is a credible partner ready to take hits …

Percentage of Austrians who want sanctions on Russia to be lifted overtakes embargo supporters
1 year, 8 months ago

Percentage of Austrians who want sanctions on Russia to be lifted overtakes embargo supporters

Firstpost  

The rich, old, and left-wing population of Austria was found to back the EU sanctions. Among the youngest group surveyed, only 22 per cent supported the embargo and a whopping 39 per cent opposed to them Vienna: A neutral Austria is getting increasingly affected by sanctions imposed by the EU on Russia owing to its dependency on the country for …

Russia bans sales of oil to countries imposing price cap
1 year, 11 months ago

Russia bans sales of oil to countries imposing price cap

Live Mint  

Russia on Tuesday banned the sale of its oil and petroleum products to countries that put a cap on their sales price, in a move that threatened more uncertainty ahead for global energy markets. Many of Russia’s crude exports are now selling at market prices well below the $60 cap, primarily to countries like India, China and Turkey that haven’t …

Russian oil price cap: Five things you need to know
2 years ago

Russian oil price cap: Five things you need to know

Al Jazeera  

Al Jazeera answers five key questions to better understand the effect of the EU and G7’s move. “The bloc has been focusing on replacing Russian oil supply routes with routes from countries in the Middle East and elsewhere, so the EU won’t face a crude oil shortage.” Philipp Lausberg, an analyst focusing on energy policy at the European Policy Centre, …

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 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 …

The war in Ukraine has reshaped the world’s fuel markets
2 years, 3 months ago

The war in Ukraine has reshaped the world’s fuel markets

The Economist  

Briefing | Docks, stocks and many floating barrels The war in Ukraine has reshaped the world’s fuel markets The Gulf will be a big winner I n 2017 Qatar lifted a 12-year ban on developing the world’s biggest natural-gas field, most of which lies under the waters of the Persian Gulf. The pivot to Asia Russia, seaborne crude-oil exports, barrels …

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 …

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 …

Russia curtails oil shipments to central Europe
2 years, 4 months ago

Russia curtails oil shipments to central Europe

Associated Press  

Several countries in Europe dependent on Russian energy suffered another blow with confirmation Tuesday that oil shipments have stopped through a critical pipeline. Russian state pipeline operator Transneft said it halted shipments through the southern branch of the Druzhba oil pipeline, which flows through Ukraine to the Czech Republic, Slovakia and Hungary. The embargo covers Russian oil brought in by …

IMF says Russian gas embargo could heavily impact central Europe
2 years, 5 months ago

IMF says Russian gas embargo could heavily impact central Europe

Al Jazeera  

A Russian gas embargo would cause deep recessions in Hungary, Slovakia, the Czech Republic and Italy, the IMF says. A Russian natural gas embargo would cause deep recessions in Hungary, Slovakia, the Czech Republic and Italy unless countries can cooperate more to share alternative supplies, the International Monetary Fund has warned. Hungary would suffer the most economically from such an …

Hungary declares ‘energy emergency’ over threat of fuel shortages
2 years, 5 months ago

Hungary declares ‘energy emergency’ over threat of fuel shortages

Al Jazeera  

Russia’s war in Ukraine and sanctions by European Union have led to “energy crisis” on continent: PM’s chief of staff. Hungary’s government has declared an “energy emergency” in response to supply disruptions and skyrocketing energy prices in Europe, an official said. Russia’s war in Ukraine and consequent sanctions from the European Union have led to an “energy crisis” on the …

Putin warns sanctions risk energy price spike ‘catastrophe’
2 years, 5 months ago

Putin warns sanctions risk energy price spike ‘catastrophe’

Al Jazeera  

Russian president says Western calls to reduce reliance on Russian energy have made global markets spike in oil and gas. Signalling that the Kremlin was in no mood for compromise, President Vladimir Putin on Friday said continued sanctions against Russia over the war in Ukraine risked triggering catastrophic energy price rises for consumers around the world. Addressing leaders of Russia’s …

European shipping firms ‘making a mockery’ of Russia sanctions as oil cargoes double
2 years, 6 months ago

European shipping firms ‘making a mockery’ of Russia sanctions as oil cargoes double

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

‘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 …

The European Union’s ban on Russian oil
2 years, 6 months ago

The European Union’s ban on Russian oil

The Hindu  

The story so far: As part of the sixth package of sanctions since Russia’s invasion of Ukraine, the European Union member states on May 30 reached an agreement to ban 90% of Russian crude oil imports by the end of the year. Addressing European lawmakers, she sought a “complete import ban on all Russian oil, seaborne and pipeline crude and …

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 …

High prices, Asian markets could blunt EU ban on Russian oil
2 years, 6 months ago

High prices, Asian markets could blunt EU ban on Russian oil

Associated Press  

BRUSSELS — The European Union’s groundbreaking decision to ban nearly all oil from Russia to punish the country for its invasion of Ukraine is a blow to Moscow’s economy, but its effects may be blunted by rising energy prices and other countries willing to buy some of the petroleum, industry experts say. “So even Russia offering a discount means that …

Hungary stalls new EU sanctions on Russia: Diplomats
2 years, 6 months ago

Hungary stalls new EU sanctions on Russia: Diplomats

Al Jazeera  

Hungary holds up finalisation of new EU sanctions against Russia over the inclusion of Orthodox Church Patriarch Kirill in the package, according to several diplomats. Hungary was holding up the finalisation of the European Union’s latest sanctions package against Russia, insisting on the removal of the head of the Russian Orthodox Church Patriarch Kirill from the list of sanctioned individuals, …

Hungary’s Orban wins exemption in EU Russian oil embargo
2 years, 6 months ago

Hungary’s Orban wins exemption in EU Russian oil embargo

Associated Press  

BUDAPEST, Hungary — Hungary’s divisive leader has once again got his own way with the European Union — this time in tough negotiations on Russian oil at a summit in Brussels. The European Commission’s “proposal to ban the use of Russian oil in Hungary was defeated,” Orban said in a video statement on Facebook. “Families can sleep well tonight as …

EU leaders agree to ban 90% of Russian oil by year-end
2 years, 6 months ago

EU leaders agree to ban 90% of Russian oil by year-end

The Hindu  

European Union leaders agreed on May 30 to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support. Ursula Von der Leyen, the head of the EU's executive branch, said the punitive move will “effectively cut …

EU leaders agree to ban 90% of Russian oil by year-end
2 years, 6 months ago

EU leaders agree to ban 90% of Russian oil by year-end

Associated Press  

BRUSSELS — European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support. Ursula Von der Leyen, the head of the EU’s executive branch, said the punitive move will “effectively cut …

EU leaders agree to Russian oil ban after compromise with Hungary
2 years, 6 months ago

EU leaders agree to Russian oil ban after compromise with Hungary

Al Jazeera  

EU says deal will effectively cut 90 percent of oil imports by year-end cutting off key source of Moscow’s funding for Ukraine war. The 27-nation organisation has spent weeks haggling over a complete ban on Russian oil but encountered stubborn resistance from Hungarian Prime Minister Viktor Orban who said an embargo would destroy his country’s economy. This immediately covers more …

European Union agrees to partial embargo on Russian oil as part of Ukraine invasion sanctions
2 years, 6 months ago

European Union agrees to partial embargo on Russian oil as part of Ukraine invasion sanctions

ABC  

European Union leaders handed Hungary concessions to agree an oil embargo on Russia over its invasion of Ukraine, sealing a deal in the wee hours on Tuesday, local time, that aims to cut 90 per cent of Russia's crude imports into the bloc by the end of the year. Key points: Embargo aims to hit Russian ability to finance war …

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 …

EU leaders split over Russian oil ban as street fighting rages in besieged Donbas city
2 years, 6 months ago

EU leaders split over Russian oil ban as street fighting rages in besieged Donbas city

The Independent  

European leaders are split over whether to target Russian oil in the latest round of sanctions aimed at supporting Ukraine. Ukrainian President Volodymyr Zelensky, who will address the summit by videoconference in the evening, has repeatedly demanded that the EU target Russia's lucrative energy sector, the Associated Press reported. open image in gallery Hungarian Prime Minister Viktor Orban Ahead of …

European Union leaders agree on partial embargo of Russian oil
2 years, 6 months ago

European Union leaders agree on partial embargo of Russian oil

LA Times  

Ukrainian demonstrators demand an embargo on Russian oil during a protest in front of the European Union headquarters in Brussels. European Union leaders reached a compromise Monday to impose a partial oil embargo on Russia at a summit focused on helping Ukraine with a long-delayed package of sanctions that was blocked by Hungary. But leaders reached a compromise after Ukrainian …

EU leaders gather amid divisions over Russian oil embargo
2 years, 6 months ago

EU leaders gather amid divisions over Russian oil embargo

Al Jazeera  

Ukraine’s Volodymyr Zelenskyy will address the EU leaders summit by video as divisions remain over a ban on Russian oil. “It’s only money, the Ukrainians are paying with their lives,” he said, adding: “We can and we must support them, if only out of self-interest because only when Russia is defeated can we in Europe feel safe.” A draft text …

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 …

Hungary proposes removing Russian oil embargo from EU agenda
2 years, 6 months ago

Hungary proposes removing Russian oil embargo from EU agenda

Associated Press  

BUDAPEST, Hungary — European Union efforts to impose an embargo on Russian oil faced more roadblocks Wednesday as Hungarian officials said they would not back the plan in its current form and recommended removing the topic from the agenda of an EU leaders’ summit next week. The EU has worked to forge a consensus among its 27 member nations for …

Orban says EU summit should not discuss Russian oil embargo
2 years, 7 months ago

Orban says EU summit should not discuss Russian oil embargo

Al Jazeera  

Hungary is not in a position to agree to the proposed EU sanctions until all outstanding issues resolved, Prime Minister Viktor Orban says in a letter to Charles Michel. The European Union’s proposed new sanctions against Russia, including an oil embargo, should not be discussed at next week’s summit of the bloc’s leaders, Prime Minister Viktor Orban has said in …

EU oil embargo ‘in days’ as Russia flags closer China ties
2 years, 7 months ago

EU oil embargo ‘in days’ as Russia flags closer China ties

Al Jazeera  

Germany says bloc is on verge of “breakthrough” on banning Russian oil imports over its war in Ukraine. The European Union will likely agree to an embargo on Russian oil imports “within days”, according to its biggest member Germany, as Moscow said it saw its economic ties growing with China after being isolated by the West over its invasion of …

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 …

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