Tag sanctions
Economics | Business  | 26.05.22

Russia’s Frozen Reserves Appeared to Be Smaller Than Expected by EU

The EU has frozen roughly €23 billion worth of assets of the Russian Central Bank, Reuters reported, citing EU Justice Commissioner, Didier Reynders, who revealed the figure at a news conference on Wednesday, May 25, 2022. He noted that the amount is much smaller than expected and can’t be compared to the assets frozen by

Greece to Give US Iranian Oil From Russian Tanker

Greece will transfer oil to the US from the Russian tanker Lana (Pegas), which was detained in mid-April this year, as TASS reported on May 26 with reference to the press service of the Ministry of the Navy and Island Policy of Greece.   Earlier, on April 19, it became known about the detention of the

Lukoil Closed Shell Acquisition Deal

Lukoil has closed a deal to acquire Shell gas stations and a lubricants plant in Russia.  “The final documents were signed in Moscow as part of a deal to sell Shell’s assets in Russia – a network of gas stations located mainly in the Central and North-Western Federal Districts, as well as a plant for

Russia to Pay Foreign Debt in Rubles, Top Official Said

The OFAC license, which allowed transactions necessary to receive payments on debt obligations of the Ministry of Finance of the Russian Federation and the Bank of Russia for a period up to May 25, will not be extended.  The license, which allowed servicing the sovereign dollar debt attracted until March 1, 2022, was issued almost

French Newspaper: EU Failed to Find Replacements for Russian Gas

Some EU countries are pushing forward the idea of refusing Russian hydrocarbon supplies due to Russia’s special military operation in Ukraine. Now the EU countries are facing troubles finding replacements for Russian hydrocarbons, especially gas, French newspaper Le Monde diplomatique states.  The article explains that in their effort to stop purchases of Russian hydrocarbons, the

Finland Seized Over $80 Million in Russian Property 

Due to the EU sanctions, Finland has arrested a large amount of Russian property, including real estate such as seaside villas, industrial raw materials, more than a dozen yachts, and over 1,000 freight train cars.   It is specified that Finnish authorities currently hold frozen assets worth more than 80 million euros due to punitive sanctions

Russia to Stop Gas Supplies to Finland Tomorrow Morning

Gas supplies from Russia to Finland will stop at 7 am this Saturday, as reported by the ‘Gasum’ Finnish company.   “In the afternoon on Friday, May 20, Gazprom Export informed Gasum that natural gas supplies to Finland under the agreement will be terminated on Saturday, May 21, 2022, at 07.00,” the message reads. Gasum Oy

Europe Commits ‘Economic Suicide’ Refusing Russian Energy Source, Putin Says

Russian President, Vladimir Putin, announced that EU countries are committing “economic suicide” by refusing Russian energy resources. The address was given virtually to an energy conference of the country’s industry heads.  “Today we see that for absolutely political reasons, due to their own ambitions and under pressure from their American overlords, European countries are imposing

Brussels Reportedly Running Out of Anti-Russian Sanctions

Brussels has already applied over 950 sanctions against Russia over its decision to recognize the Donbass republics as sovereign nations in February and the military operation in Ukraine. So, according to an EU diplomat, the union is running out of sanctions it can slap on Russia.  “The 7th package of sanctions against Moscow will be