How a Russian billionaire shielded assets from European sanctions

Russian businessman Andrey Melnichenko ceded ownership of two of the world’s largest coal and fertilizers companies to his wife the day before he was sanctioned by the European Union, according to three people familiar with the matter. Melnichenko, who built his fortune in the years following the 1991 fall of the Soviet Union, gave up … Read more

EU agrees Russia oil embargo, gives Hungary exemptions; Zelenskiy vows more sanctions

This is the toughest sanction yet on Russia for its invasion of Ukraine, and one that will itself affect the European Union, where energy prices have spiked BRUSSELS, Belgium – European Union leaders have agreed an embargo on Russian crude oil imports that will take full effect by end-2022, but Hungary and two other landlocked … Read more

[ANALYSIS] Security Council split spells end of an era for US-led sanctions on North Korea

A decision by China and Russia to veto new United Nations sanctions on North Korea pushed by the United States shattered any veneer of global cooperation, straining efforts to pressure Pyongyang as it prepares to conduct a new nuclear test. The two countries on Thursday, May 26, vetoed a US-led push to impose more UN … Read more

EU’s toughest Russia sanctions yet snag on worries over oil ban

European Commission President Ursula von der Leyen announces new sanctions being considered to punish Moscow, including an embargo on Russian crude oil STRASbourG, France – The European Union’s executive on Wednesday, May 4, proposed the toughest package of sanctions yet against Moscow for its war in Ukraine, but several countries worried about the impact of … Read more

Russian strikes pound Ukraine on eve of new EU sanctions

ZAPORIZHZHIA, Ukraine – Russian forces pounded targets in eastern Ukraine on Tuesday, May 3, unleashing rockets on a steel plant that is Ukraine’s last redoubt in the port city of Mariupol as the European Union prepared to slap oil sanctions on Moscow. Scores of evacuees who did manage to leave the city under United Nations … Read more

EU prepares next Russia sanctions including German-backed oil ban

The European Union was preparing sanctions on Russian oil sales after a major shift on Monday, May 2, by Germany, Russia’s biggest energy customer, that could deprive Moscow of a large revenue stream within days. The European Commission is expected to propose a sixth package of EU sanctions this week against Russia over its invasion … Read more

Europe denounces ‘gas blackmail’ as sanctions batter Russian economy

‘The sooner everyone in Europe recognizes that they cannot depend on Russia for trade, the sooner it will be possible to guarantee stability in European markets,’ Ukrainian President Volodymyr Zelenskiy says European leaders denounced Russia’s attempt to “blackmail” Ukraine’s allies over gas supplies, as Western sanctions batter the Russian economy already struggling with its worst … Read more

EU payment in roubles for Russian gas would violate sanctions regime – document

An internal European Commission note says Russian President Vladimir’s decree takes the effective Putin completion of purchases out of the hands of EU gas buyers BRUSSELS, Belgium – Payment for Russian gas in roubles by European Union buyers as demanded by President Vladimir Putin would break the EU’s sanctions regime against Moscow, an internal European … Read more

Russian workers face new reality as Ukraine war sanctions sap job prospects

LONDON, United Kingdom – The phone call telling Oleksandr Kyryliuk he was losing his job came just hours after Russian troops stormed into Ukraine. His employer, beermaker Samuel Smith, had decided to pull out of the Russian market. “On February 24, we all woke up to a new reality,” said 33-year-old Kyryliuk, who had worked … Read more

Ukraine calls for more sanctions, weapons to stop Russia’s ‘catastrophe’

KYIV, Ukraine – President Volodymyr Zelenskiy said Russia’s aggression was never limited to just Ukraine and the whole of Europe was a target, as he urged the West to impose a complete embargo on Russian energy products and to supply Ukraine with more weapons. Ukraine said it was ready for a tough battle with Russian … Read more