The latest sanctions, imposed last week, targeted over 180 oil-carrying vessels of Russia's so-called shadow fleet, a group of aging tankers routinely used for sanction evasion.
Viktor Orban also described the European Union as being in a "drunken stage" but predicted a "sobering up" in Brussels.
In the run-up to his departure from the White House, President Joe Biden has slapped a number of major new sanctions on Russia’s financial systems and energy sector. The U.S. originally threatened Russia with “the mother of all sanctions” as Moscow prepared to invade Ukraine in February 2022.
Advisers to U.S. President-elect Donald Trump are developing a comprehensive sanctions strategy aimed at facilitating a diplomatic resolution to the Russia-Ukraine war, Bloomberg reported on Jan. 16, citing anonymous sources familiar with the discussions.
"Today's actions frustrate the Kremlin's ability to circumvent our sanctions and get access to the goods they need to build weapons for their war of choice in Ukraine," said Deputy Secretary of the U.S. Treasury Wally Adeyemo.
The phase-out of LNG could be enacted as a sanction or part of a road map presented by the European Commission next month. Restrictions on aluminum would be gradual, with a time frame yet to be determined, officials said.
Sixty-five oil tankers paused operations in various places around the world following the recent U.S.-U.K. sanctions against Russia’s oil industry and shadow fleet, Reuters reported on Jan. 13, citing maritime tracking data.
President Volodymyr Zelensky signed a decree on Jan. 13 imposing new sanctions on the Russian financial sector. The sanctions target 140 distinct entities.
The countries argue that a lower cap would further restrict Russia's ability to finance its war against Ukraine while avoiding significant disruptions to global oil markets.
Three sanctioned tankers carrying over 2 million barrels of Russian crude oil are floating off China's coast after they were hit by fresh U.S. sanctions last week, Bloomberg reported on Jan. 13.
Key developments on Jan. 10: * Ukrainian Neptune missile hits Russian drone warehouse in Rostov Oblast, SBU source claims * Ukraine conducts 'precision strike' on Russian army command post in Donetsk Oblast, General Staff claims * Ukrainian forces defending Kurakhove thermal power plant amid intense fighting in Donetsk Oblast, military says * Scholz blocks
"The United States is taking sweeping action against Russia's key source of revenue for funding its brutal and illegal war against Ukraine," Treasury Secretary Janet Yellen said.
Two Russian airliners were forced to return to their departure airports due to engine failures shortly after takeoff, The Moscow Times reported on Jan. 4, citing Russian media.
The U.S.'s planned sanctions would aim at targeting tankers carrying Russian oil above the imposed price cap and individuals working in schemes to sell crude above the cap, Reuters reported.
"Almost every month, ships are currently damaging important undersea cables in the Baltic Sea," German Foreign Minister Annalena Baerbock told Funke media group on Dec. 28. "This is an urgent wake-up call for all of us."
Russian shoppers continue to access luxury Western brands despite sanctions imposed after the full-scale invasion of Ukraine, The Financial Times reported on Dec. 26.
Russian companies are increasingly using Bitcoin and other digital currencies for international payments in response to Western sanctions, Reuters reported on Dec. 25.
The declaration comes after President Volodymyr Zelensky confirmed during a press conference on Dec. 19 that Ukraine would not extend the transit agreement for Russian gas through its territory, which is set to expire on Dec. 31.
The U.S. is planning to impose additional sanctions on Russian oil by the end of the year, particularly targeting Russia's so-called "shadow fleet," Vladyslav Vlasiuk, the Ukrainian president’s commissioner for sanctions, told public broadcaster Suspilne on Dec. 23.
BMW discovered irregularities that allowed cars to be transferred to Russia from its branch in Hanover, the German automaker said on Dec. 22.
The following is the Dec. 18, 2024 edition of our Ukraine Business Roundup weekly newsletter. To get the biggest news in business and tech from Ukraine directly in your inbox, subscribe here. The Council of the EU adopted on Dec. 16 its 15th package of sanctions against Russia since the
"We’re going to continue to work and ensure that Russia is never able to weaponize its energy resources and its energy positioning for political gain again," U.S. State Department spokesperson Vedant Patel said.
Russian shopping centers have been hit hard by the departure of major foreign companies, rising operational costs, and increased competition from online marketplaces.
Autocratic regimes like Russia are becoming increasingly bold in their efforts to undermine the principles and norms that came to define the democratic world order in the aftermath of World War II. A month after the start of the full-scale war against Ukraine, Russian Foreign Minister Sergei Lavrov even declared
The United Kingdom sanctioned 20 vessels of Russia’s "shadow fleet" and pledged 35 million pounds ($44 million) in aid to repair Ukraine’s energy grid, the British government said on Dec. 17.
South Korea imposed sanctions on 11 individuals and 15 entities "engaged in illegal military cooperation between Russia and North Korea," the South Korean Foreign Ministry said in a statement on Dec. 17.
The new listings include 54 persons and 30 entities "responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine."
Lithuania and Estonia have imposed sanctions against Georgian Prime Minister Irakli Kobakhidze and several government officials, Lithuanian Foreign Minister Kestutis Budris announced on X on Dec. 15.
The Petroleum Industry of Serbia, primarily owned by Russia’s Gazprom Neft and its parent company Gazprom, is Serbia’s exclusive gas supplier and controls the main pipelines delivering gas from Russia to Serbian households and industries.
Washington is considering more sanctions on "shadow fleet" tankers and has not ruled out targeting Chinese banks if they are found to be involved in Russia’s war effort, U.S. Treasury Secretary Janet Yellen told Reuters in an interview on Dec. 13.
Russia's Comprehensive Program for the Development of the Air Transport Industry until 2030 envisioned producing 1,032 passenger aircraft between 2022 and the end of the decade.
EU ambassadors agreed on a 15th package of sanctions against Russia, the Hungarian Presidency of the Council of the EU announced on Dec. 11.
