Contents tagged with Sanctions

  • South Korea refuses to let Russian ships in because of US sanctions

    South Korea denied the ships of the Russian company Gudzon Shipping entry to the country’s ports, the Kommersant newspaper reports with reference to the company’s General Director, Gennady Kononenko.

    “I have documents showing that South Korean authorities denied the entry [to the ports],” Kononenko said.

    Kononenko added that the matter was related to the sanctions of the United States against companies suspected of oil trade with North Korea. The Director General of Gudzon Shipping stated …

  • Washington: USA is under no illusion that Russia will take steps to avoid sanctions

    The USA firmly disbelieves that Russia will accept Washington’s conditions or take actions to avoid the second round of sanctions arising from the Skripal incident, stated the Under Secretary for Arms Control and International Security, Andrea Thompson, as published on the Senate’s website.

    Thompson recalled that the first phase of sanctions against Russia was imposed as part of the Chemical Weapons Convention. She said, “The United States has made it clear that we will cease pursuing its …

  • US threatens sanctions for participation in Nord Stream 2 pipeline

    European companies participating in the “Nord Stream 2” pipeline will incur the serious risk of sanctions from the US stated Frank Fannon, US Assistant Secretary of State and Energy Resources, according to Voice of America.

    “Companies that operate in the Russian energy pipeline sector are engaging in business activity that carries with it a significant risk of sanctions, this applies to Nord Stream 2 and TurkStream,” said Fannon.

    He also expressed the opinion of the US government about the …

  • Kyiv: Ukraine negotiating sanctions with western partners against Russian Black Sea ports

    According to Ukrainian Minister of Infrastructure Volodymyr Omelyan, Ukraine is negotiating sanctions with the West against Russian Black Sea ports.

    “We are holding negotiations with our European and American partners in order to impose appropriate sanctions against the Black Sea ports because of the blockade of the Azov Sea  for Ukrainian ships [ by Russia],” he said on channel 112 TV.

    According to Omelyan, the wave of sanctions against Moscow is rising and the latest decision by US Congress …

  • Bill on sanctions against Nord Stream 2 pipeline introduced in the US Congress

    John Barrasso, Senator from Wyoming and a member of the Republican Party of the USA introduced a new bill to Congress providing sanctions against the Nord Stream 2 pipeline, as reported on Barrasso’s website.

    According to the Senator, sanctions against the pipeline would allow NATO countries to avoid political manipulation and coercion by Russia. “Countries like Germany should be reducing the amount of natural gas that they buy from Russia, not increasing it. But that’s what this Nord Stream 2 …

  • Five countries join in EU sanctions against Russia

    Montenegro, Albania, Norway, Ukraine, and Georgia have joined the EU sanctions imposed against Russia due to the annexation of the Crimea which are in effect until June 23rd, 2019, said the High Representative of the European Union, Federica Mogherini.

    “The Candidate Countries Montenegro and Albania, and the EFTA country Norway, member of the European Economic Area, as well as Ukraine and Georgia align themselves with this Declaration. They will ensure that their national policies conform to …

  • Russia to finance Nord Stream 2 if US imposes sanctions

    The construction of the Nord Stream 2 gas pipeline, which will connect Russia and Germany directly, may be financed even if Washington places sanctions on the European companies involved in the project, Nord Stream 2 CFO Paul Corcoran told Welt am Sonntag in an interview.

    “The project will definitely be financed. It is important for Gazprom, and Russia currently has a large liquidity reserve in euros,” Corcoran emphasized.

    According to the CFO, the initiative may be realized even without …

  • Russia’s Central Bank predicts sanctions and stagnation

    Over the next three years, the rate of economic growth in Russia will be half of the world average, and sanctions from western countries will persist, restricting the flow of foreign capital, without which it will be necessary to rely solely on internal resources.These were Russia’s Central Bank’s (CB) assumptions in the projection of the “Primary areas of development of the financial market” until 2020.

    No significant acceleration of the Russian economy is foreseen. The CB predicts that the …

  • Minister of Finance: EU can impose sanctions against Ukraine due to failure to sign treaty on offshore companies

    Minister of Finance Oleksandr Danyliuk warned that the European Union could introduce economic sanctions against Ukraine if the MLI or Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (Prevent Base Erosion and Profit Shifting) is not signed.

    "We must sign a multilateral convention to implement measures related to the taxation agreement before June 28. This is the so-called MLI. The relevant decision was made by the Cabinet of Ministers back in December last year, …

  • Russian State Duma passes law on reciprocal sanctions

    The lower house of the Russian parliament, in the third and final reading, passed a bill on counter sanctions. 

    In the final version of the bill, there is no mention of specific areas to which sanctions may apply. The law enables the government to ban the importation of any product or raw material, with the exception of necessary goods that are not produced in Russia.

    Additionally, restrictions cannot be applied to goods imported for personal use, both by Russians and foreigners.

    The bill …