Contents tagged with Sanctions

  • Russia’s natural resource hegemony continues to decline

    With the lifting of sanctions against Iran and Tehran’s consequent participation in the global oil market, the price for Russia’s main export commodity—energy sources—continues to decline with no end in sight. With the fourth largest reserves in the world, Iran put its oil on the global market on Monday, contributing to oil prices dropping below $28 per barrel.

    What is more, the recent events in the Russian gas supply market exacerbate the situation, as traditional markets for Russian natural …

  • Russia Prepared To Reduce Sanctions Against Turkey To Complete World Cup Projects

    The Kremlin is ready to reduce sanctions against Turkish construction companies in order to complete construction projects for the World Cup Championship that is to be held in the Russian Federation in 2018. The reduction of sanctions can affect about 30 Turkish construction companies. According to Kommersant, the total cost of these works is estimated at 60 billion rubles (approximately $784 million).

    Moreover, developers can be allowed to stay in Russia under the condition that they will …

  • PACE: Russia Awaits New Sanctions

    The powers of the Russian delegation to the Parliamentary Assembly of the Council of Europe (PACE) will continue to be suspended because of the annexation of Crimea and the war in the Donbas region.

    State Duma deputies representing Russia at the Parliamentary Assembly of the Council of Europe (PACE) could receive a cold reception from some of their European colleagues during the opening of the winter session. It will begin its work on January 25th in Strasbourg. According to a source in the …

  • Russia Halts Transit of Ukrainian Goods

    The Russian Federation has imposed customs duties as well as a food embargo against Ukraine in an effort to protect its market from the influx of duty-free supplies entering the Ukraine from the European Union. The Ministry of Economic Development and Trade of Ukraine (MEDTU) reported that Russia has fully halted the transit of Ukrainian goods into its territory as of 4 January 2016.

    “This ban by the Russian Federation is not clear. It is unacceptable and discriminatory in nature. Therefore, …

  • 40 tons of Belgian pears destroyed at Russian border

     Russian Federal Security Bureau (FSB) agents and Roskomnadzor’s employees found two batches of pears at the Troitsk checkpoint in the Chelyabinsk region. The shipment of pears falls under the Presidential Decree issuing retaliatory sanctions, the Rosselkhoznadzor press service reported.

    Fresh pears from Belgium were imported to Russia by two cars from Kazakhstan. Kazakh certificates, indicating Serbia as the country of origin, were attached to them. The total weight of the two batches was 40 …

  • Putin blames profiteers for Russia’s economic woes

    At a meeting with cabinet members, Russian President Vladimir Putin called for increasing the amount of high-quality but inexpensive Russian products on the market. Putin said that profiteering has led to a decline in living standards in the country, and has produced an unjustified increase in the cost of products, goods, and services.

    “Today, unreasonable, frankly profiteering price hikes on goods and services are leading to lower living standards. We need to use all market instruments …

  • Duma Deputy Proposes New Counter-Sanctions against US

    In response to U.S. sanctions against Russia, the First Deputy Chairman of the State Duma Committee on Economic Policy, Innovation and Entrepreneurship, Mikhail Emelyanov, proposed imposing sanctions against Coca-Cola, as well as Visa and MasterCard payment systems.

    “We conduct business with some American companies that will be susceptible to these sanctions.  This applies primarily to the audit companies, financial companies and, of course, Coca-Cola," the Russian Deputy said.

    Emelyanov …

  • Russia calls Connecting EU Sanctions to Situation in Donbas Groundless

    The Russian Foreign Ministry stated that connecting the EU sanctions to the regulation of the conflict in the Donbass is “groundless.”

    "The fact that the EU binds their sanctions to the settlement of the conflict in southeastern Ukraine is artificial and groundless. This conflict was started not by Russia, but by the current Ukrainian government," the Ministry said.

    "The lack of logic in the behavior of the European Union is obvious. It's trying to 'punish' Russia for something that it has no …

  • Russian Duma Speaker: Sanctions against Russia are humiliating and illogical for the EU

    According to Sergei Naryshkin, the Russian Duma Speaker, the sanctions against Russia have been entered into without the consent of the people of the EU.  The sanctions against Russia are humiliating and illogical for the EU, said Naryshkin, in an article he wrote for the newspaper Izvestia, released on Monday.

    "Brussels’ approach to modern Russia is a strategic miscalculation.  Talking to us in the language of illegal sanctions is illogical and obviously embarrassing for European diplomacy," …

  • Russian sanctions extended

    BRUSSELS – The European Union on Monday extended its economic sanctions against Russia for six months, after the Kremlin had failed to fully respect a peace agreement in east Ukraine.

    The sanctions target Russia's financial, energy and defense sectors as well as some dual-use goods.

    Despite a cease-fire declared in February, Ukraine says it still has not regained complete control over its border with Russia and that Russian-backed rebels are not respecting the cease-fire conditions.

    The …