New sanctions against Russia: In Nord Stream and Oil Turn the 18th Package

by Andrea
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New sanctions against Russia: In Nord Stream and Oil Turn the 18th Package

In a new package of sanctions, in the 18th in total to the day of its invasion of Ukraine, it progresses, as well as seeking to reach a peace agreement.

Specifically, the new package, which was recently presented by the Commission, will “target” both Nord Stream gas pipelines, Russian oil and Russian banks this time. As far as the pipelines are concerned, the prohibition of trading with them is proposed for the first time, which means that no European administrator will be able to get involved directly or indirectly with transactions related to these infrastructure.

On the other hand, the Commission proposes to reduce the ceiling in Russian oil from $ 60 to $ 45 per barrel. As Ursula von der Laen explained, the decline in prices from 2023 to the present means they are now close to the ceiling, so the price must be reduced. The whole issue is to be discussed at the G7 meeting in Canada.

In addition to the above, the list of 342 forbidden tankers are now added another 77 which are part of the Russian shadow fleet, and the ban on introduction of oil produced by Russian crude oil is also proposed.

‘We need a real truce’

The chairman of the European Commission, at the same time, stated that Moscow’s revenue from the EU prior to the war. In this area, there was 12 billion euros, and now only $ 1.8 billion “reaches” the commission’s president at the same time emphasized the process of gradual and total detachment from Russian fossil fuels, which are in progress, based on EU planning.

“This war should be over. We need a real truce, “said Ursula von der Laen. “Russia does not want peace. Nothing suggests that Russia is ready for peace, “Caya Callas said. Both officials expressed the belief that the measures would limit Moscow’s revenue to support its war machine.

The new “package” also includes sanctions against 22 Russian banks, as well as 22 companies from both China and Belarus.

The possible “veto” by Hungary and Slovakia

The new sanctions require, however, a previous consultation with the EU Member States. in order to give their approval unanimously. However, Hungary and Slovakia have already warned that they will reject additional measures against Moscow due to their dependence on Russian oil.

The efforts of both the current Polish Presidency of the EU Council and the next Denmark are expected to focus on lifting the possible “veto” of the two member states.

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