Contents tagged with EU
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EU tightens sanctions: bans investors from participating in Russian asset exchange scheme
In a stern directive from the Directorate-General for Financial Stability, Financial Services, and Capital Markets Union (DG FISMA), the European Commission has prohibited individuals and legal entities from EU countries from participating in an asset exchange scheme proposed by Russia. This announcement, made on Wednesday, July 24, underscores the EU's firm stance on the involvement of Russia's National Settlement Depository (NSD), which has been on the EU's sanctions list since June 2022, …
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Kremlin vows retaliation against EU plan to use frozen Russian assets for arming Ukraine
Kremlin spokesperson Dmitry Peskov has stated that Russia will respond to the European Union’s decision to channel revenues from frozen Russian assets towards military supplies for Ukraine, as reported by RIA Novosti.
"These funds are not only stolen but are also being used to buy weapons. It's hard to imagine something worse," Peskov remarked.
He further emphasized that such actions "cannot remain unanswered."
"Moscow will explore legal options to prosecute those responsible for the …
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EU stalemate: Hungary’s veto paralyses military aid to Ukraine
Hungary once again blocked military aid funds for Ukraine. According to Josep Borrell, the EU has been unable to transfer earmarked funds to Ukraine for over a year due to the veto from a single country. At this stage, there is no constructive way out of this situation.
EU Foreign Ministers were unable to reach an agreement on unlocking the funds from the "European Peace Facility" during their meeting in Brussels. These funds are essential for supplying arms to Ukraine, Ukrinform cites the EU' …
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Euroclear to channel €1.55 billion from blocked Russian assets to Ukraine
Euroclear, the international securities depository, has announced it will contribute approximately €1.55 billion to the European fund for Ukraine from investments of blocked Russian assets by July this year.
According to Euroclear's report released on Friday,July 19th, for the first half of 2024, Euroclear realised €3.4 billion in interest income from investing these frozen Russian assets, compared to roughly €4.4 billion in 2023 and €821 million in 2022.
Euroclear's overall interest income …
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Russia slashes gas prices for Iran after losing European market
Russia is willing to supply natural gas to Iran at a 75% discount compared to European and Turkish prices.
Facing a significant loss of its European gas market, Russia is desperately seeking buyers in alternative markets and is compelled to agree to what some see as humiliating terms for selling its gas. This situation affects even the so-called "friendly" routes for the Kremlin.
An illustrative example is the reported readiness of Russia to supply gas to Iran at a 75% discount compared to …
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Ukraine to receive €1.5 billion in July from frozen Russian assets
Ukraine is poised to gain approximately €1.5 billion in revenue from frozen Russian assets in the EU by July, European Commission President Ursula von der Leyen announced on Tuesday, June 11, at a conference in Berlin focused on Ukraine's recovery.
Von der Leyen specified that the majority of these funds will be allocated for defence, with 10% dedicated to Ukraine’s reconstruction. "We are leveraging financial power to help Ukraine endure and rebuild," she emphasised.
Additionally, von der …
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Lithuanian Foreign Minister urges EU to find creative solutions to support Ukraine
Ahead of an EU foreign ministers' meeting in Brussels, Lithuanian Foreign Minister Gabrielius Landsbergis called on allies to devise a creative solution to support Ukraine.
"Although I am heading to another Council meeting today, I do not believe it should be business as usual. We have to recognize that there is nothing normal about the situation Europe finds itself in, and if we fail to acknowledge this fact, we may end up in even worse circumstances, with the most immediate concerns …
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Kyiv: deliveries of western fighter jets to Ukraine may be unblocked soon
The issue of providing Ukraine with long-range weapons and fighter jets can be resolved, said the Head of the Ukrainian Presidential Administration, Andriy Yermak.
"The issue around long-range weapons and fighters for Ukraine can be resolved soon. Details will be a little later?" Yermak wrote on Telegram.
During a speech in the British Parliament, Ukrainian President Volodymyr Zelensky, presented the Speaker of the House of Commons Lindsay Hoyle with a helmet of a Ukrainian fighter pilot and …
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EU Parliament calls for establishment of special tribunal to punish Russia for crimes against Ukraine
Members of the European Parliament demand that the Russian political and military leadership be brought to justice for aggression against Ukraine. Today, the parliament adopted a resolution stating that the European Union and its members should seek the creation of a special international tribunal to prosecute the Russian authorities and their allies.
The resolution notes the atrocities committed by the Russian military in Bucha, Irpen and many other Ukrainian cities. According to the European …
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EU Parliament declares Russia a state sponsor of terrorism
On Wednesday, November 23, the Parliament of the European Union adopted a resolution recognizing Russia as a state sponsor of terrorism because of the military aggression against Ukraine. 494 members of the European Parliament supported the resolution, 58 voted against, 44 abstained.
By declaring Russia a state sponsor of terrorism and a state that uses the means of terrorism, MEPs intend to prepare the ground for bringing Russian president Vladimir Putin and the Russian government to justice …