Contents tagged with Sanctions
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Survey reveals majority of Russians feel unaffected by western sanctions
A significant majority of Russians feel that the sanctions have neither hurt them nor their country, according to a survey by Levada Center. An astounding 86% of respondents shared this view, with only 12% acknowledging personal impact due to the sanctions, reports The Moscow Times.
The proportion of people worried about sanctions has hit a record low of 26%, while those not concerned at all or only slightly concerned have grown to a maximum of 72%.
Sanctions appear to have slightly more …
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U.S. sanctions deepen Russia's economic woes: oil revenue shortfall exceeds expectations by $2 trillion
In a significant economic blow, U.S. sanctions have driven a massive hole in Russia's critical oil revenue streams. Moscow had forecasted its budget with oil prices at $70 per barrel, yet prices have plummeted below $60.
Previously, Russians feared the impact of new U.S. sanctions, but the reality has proved to be far more daunting.
On Tuesday, the Russian government officially conceded that reaching a budget shortfall due to these new sanctions could sum up to 2 trillion rubles. This equates …
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EU sanctions derail Russia's plan to employ foreign airlines for domestic flights
Russia's attempt to counter a sharp increase in airline ticket prices has hit a major roadblock. The European Union's newly imposed, 16th sanctions package has blocked one of Moscow's crucial strategies—engaging foreign carriers for domestic flights. As a result, any negotiations for what's termed "cabotage" appear virtually out of reach. This development was reported by the Russian outlet Agentstvo.
The restrictions, introduced on the third anniversary of Russia's invasion of Ukraine, ban any …
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UK unveils largest-ever sanctions against Russia, targeting illicit revenue and military supply chains
In a major move, UK Foreign Affairs Secretary David Lammy has announced the most extensive package of sanctions against Russia in three years, targeting illicit revenues that are fueling Vladimir Putin's war against Ukraine. The sweeping measures, which focus on Russian kleptocrats, come as the UK government shared details on Monday, February 24.
The sanctions include 107 new measures targeting military supply chains in Russia, specifically those revenues sustaining Putin's illegal war and the …
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EU announces comprehensive 16th sanction package against Russia on Ukraine war anniversary
In a major development marking three years since the onset of the conflict in Ukraine, the European Union has announced its 16th sanction package against Russia, as detailed in a press release from the EU Council. This new wave of sanctions targets 48 individuals and 35 entities, deemed responsible for actions that compromise or threaten Ukraine's territorial integrity, sovereignty, and independence .
Furthermore, the package includes restrictions on 74 tankers from Russia's shadow fleet, …
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EU approves 16th sanctions package against Russia: targeting banks, media, and 'shadow fleet'
EU nations have greenlit a new wave of sanctions against Russia amid its ongoing military invasion of Ukraine. This marks the 16th sanctions package, set to take effect on February 24, 2025, coinciding with the third anniversary of Russia’s all-out war against Ukraine, according to Poland, the current holder of the EU Council presidency.
This latest round introduces more stringent measures: 13 additional Russian banks are set to be cut off from the SWIFT system. Furthermore, eight Russian …
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EU plans new sanctions targeting key sectors of Russian economy
As the EU ramps up for its 16th sanctions package against Russia, officials are eyeing restrictions on 50 categories of Russian goods, aligning with the third anniversary of Russia's full-scale invasion of Ukraine, said EU Special Representative for Sanctions David O'Sullivan during an interview with Kazakh media, Kazinform.
O'Sullivan noted that these additional trade restrictions would affect 50 product codes previously highlighted for Kazakhstan's attention. Currently, about 60% of past …
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U.S. Sanctions threaten to cripple Russia's oil exports as India and China seek alternatives
The latest round of U.S. sanctions could effectively halve Russian oil exports, as key buyers India and China seek alternative suppliers.
Russia's oil industry finds itself in dire straits following the introduction of new U.S. sanctions that have intensified restrictions on the transport and sale of Russian oil. As Bloomberg reports, tankers initially destined for Russian cargo are now turning back at sea, with major customers like China and India beginning to source from other suppliers in …
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Strategic shift: China's new trade restrictions on Russia signal U.S. influence
China continues to ship goods to Russia under previously paid contracts but refuses new deliveries. Under the new regulations, Chinese companies will be subject to a 25% tax on dual-use goods exported to Russia. This list includes essential IT equipment like servers and components and has already created tension in Russia.
Furthermore, the sale of argon gas for welding is restricted, with contracts continuing but no new agreements being made. Critical sectors like technology, defense, …
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Russia's aluminum giant feels the strain of sanctions, production slashed amid rising costs
Russia's aluminum industry faces a crisis as alarming news emerges from Rusal about a sudden production cut. The country's largest aluminum producer, Rusal, has announced a reduction in aluminum output by 250,000 tons. The company attributes this decision to record-high alumina prices— a crucial raw material— and deteriorating macroeconomic conditions.
Rusal, owned by prominent Russian oligarch Oleg Deripaska, who is closely tied to the Kremlin, has found itself procuring more than a third of …