Contents tagged with Sanctions on Russia

  • Siemens announces it is ceasing business operations in Russia

    Siemens AG, the German engineering giant, announced it is exiting Russia after doing business in the country for 170 years. Siemens is the latest in a long list of firms that have pulled out of Russia following its invasion of Ukraine in February.

    The company employs 3,000 people in Russia and has begun winding down its industrial operations and businesses in the country. The company took a high of $625 million in its second quarter financial statement after Russian sanctions.

    Siemens had …

  • US imposes sanctions on Russian developer of hypersonic missiles

    The US has imposed sanctions on three Russian defense companies for violation of the non-proliferation of weapons of mass destruction.

    As of February 3, sanctions have been imposed on NPO Mashinostroyeniya, Russia’s largest developer of rocket systems, according a report published in the Federal Register.

    From now on, the company, which develops the full range of missile and space equipment – from launch vehicles and satellites to cruise and ballistic missiles – is banned from any contact …

  • US could impose new sanctions on Nord Stream 2

    The US is considering the possibility of imposing additional sanctions on the Nord Stream 2 project if Russia tries to complete its construction independently. The Senate and the House of Representatives has already prepared a new sanction bill which could target the European investors in the pipeline and the companies that buy gas, if it ever starts to arrive in Germany.

    Citing sources in Washington, Handelsblatt reports that the sanctions could arrive very soon – in February or March. US …

  • Ukrainian President calls on EU to maintain sanctions against Russia

    Ukrainian President Volodymyr Zelensky, in a telephone conversation with the President of the European Council Charles Michel, said that he hopes that the sanctions against Russia will be extended, reports the press service of the Ukrainian President.

    "I expect that the leaders of the EU Member States will maintain unity in support of the sovereignty and territorial integrity of Ukraine, as well as in the continuation of sanctions against the Russian Federation until full implementation of the …

  • German Foreign Minister opposes easing EU sanctions against Russia

    German Foreign Minister Heiko Maas sees no reason to lift the economic sanctions imposed by the European Union against Russia. According to him, Moscow should make its contribution to end the war in the Donbas in order to improve Russian-European relations.

    "People in Eastern Ukraine have been waiting for peace for too long. So far, there is no reason to oppose the policy of EU sanctions," wrote Maas on Twitter.

    The easing of EU economic sanctions against Russia is not planned at the EU …

  • EU agrees to extend sanctions on Russia by 6 months

    The EU will be extending the individual sanctions on Russian physical entities and organizations by six months.

    “Today EU ambassadors approved the decision to extend the restrictive measures for actions that have threatened the territorial integrity, sovereignty and independence of Ukraine by 6 months, until March 15, 2020,” the press service stated. The Council of Europe added that the extension will be implemented over the next few days.

    “An analysis of the situation has shown that an …

  • Ukraine among top 3 countries in terms of damage inflicted to Russia's economy

    Restrictive measures imposed against Russian products abroad caused a damage of $6.3 billion (expert evaluation) to the Russian economy, according to the report published on the website of the Russian Ministry of Economic Development. 

    It follows from the presentation prepared by the ministry that the European Union took the first place in terms of the number of restrictions imposed on Russian goods. Next come Ukraine, India, Belarus, Turkey and the United States. 

    Nevertheless, the picture …

  • Merkel says sanctions against Russia are necessary

    Germany does not intend to soften sanctions against Russia even though German businesses would like to see the relations with Russia improve, German Chancellor Angela Merkel said in Berlin on Thursday.

    Although the German business circles often call for softening the sanctions, “this is about principles”, Merkel said.

     “There are a number of states around Russia that were not able to develop as they would like to. We cannot shut our eyes to this. We can explain something with sanctions,” she …

  • Putin calls on the US to negotiate with him and lift sanctions

    TASS news agency reports that the Russian President Vladimir Putin during a plenary session of the investment forum "Russia calling !" organized by the VTB Capital group, stated that it is necessary to abandon the policy of unilateral sanctions and look for what Russia and the US can agree on.

    “What advice can be offered here? To abandon this policy [of sanctions] and seek common ground. We are ready for that; we want that. I said this more than once. I hope that, if we can talk with the US …

  • Russia calls on the US to stop expelling diplomats and return diplomatic property

    RIA Novosti reports that Sergey Lavrov, the Russian Foreign Minister said he would like that the US and Russia abandon the mutual expulsions of diplomats.

    According to the Russian foreign minister, he proposed this during his meeting with the US National Security Advisor to the President, John Bolton.

    Lavrov also expressed the desire to resolve the issue of the country’s diplomatic property. According to him, the beginning of the resolution includes mutual permission to visit those buildings “ …