VSo who are the enablers of the offshore system? They range from global law firms, like Baker McKenzie, an architect of the modern tax avoidance system, to tiny one-person operators working from Bermuda.
Here is a selection of facilitators, offshore agents and banks that ICIJ has identified as aiding Russia’s elite move and hide money.
Facilitators
Firms and individuals who have set up or used opaque financial structures for Russian elites
Alastair Tulloch: Tulloch & Co., run by the British attorney Alastair Tulloch, is situated in a posh district in London, one of the most well-known destinations for elite Russian wealth. ICIJ’s Pandora Papers investigation reported that Tulloch’s firm structured networks of companies for former Russian Deputy Finance Minister Andrey Vavilov; Alexander Mamut, a billionaire oligarch and political insider; and Vitaly Zhogin, a banker wanted in Russia for alleged fraud. Tulloch used offshore services provider Trident Trust to arrange for their assets to be transferred to shell companies registered in the British Virgin Islands, Cyprus and the Bahamas. Tulloch did not respond to requests for comment.
Read more at:
How a network of enablers have helped Russia’s oligarchs hide their wealth abroad - ICIJ
The Future Is Here Today
Where Business, Nature and Leisure Provide An Ideal Setting For Living
Showing posts with label Sanctions. Show all posts
Showing posts with label Sanctions. Show all posts
March 23, 2022
March 13, 2022
Russian TV in America - who is fooling whom?: RT America ceases productions and lays off most of its staff - but still can be seen on your smart TV
RT America will cease productions and lay off most of its staff, according to a memo CNN obtained from T&R Productions, the production company behind the Russian state-funded network.
Misha Solodovnikov, the general manager of T&R Productions, told staff in the memo that it will be "ceasing production" at all of its locations "as a result of unforeseen business interruption events."
"Unfortunately, we anticipate this layoff will be permanent, meaning that this will result in the permanent separation from employment of most T&R employees at all locations," Solodovnikov wrote.
Note EU-Digest: Who is kidding whom. Despite sanctions etc., anyone in America or anywhere in the world, who has a smart TV with an Internet connection can still watch RT TV.
Read more at: RT America ceases productions and lays off most of its staff - CNN
Misha Solodovnikov, the general manager of T&R Productions, told staff in the memo that it will be "ceasing production" at all of its locations "as a result of unforeseen business interruption events."
"Unfortunately, we anticipate this layoff will be permanent, meaning that this will result in the permanent separation from employment of most T&R employees at all locations," Solodovnikov wrote.
Note EU-Digest: Who is kidding whom. Despite sanctions etc., anyone in America or anywhere in the world, who has a smart TV with an Internet connection can still watch RT TV.
Read more at: RT America ceases productions and lays off most of its staff - CNN
November 16, 2018
US-Saudi Relations: U.S. sanctions 17 for role in hideous murder of Saudi journalist Khashoggi - a US smokescreen to protect business interests with Saudis?
 |
| Khashoggi murder: Business as usual between US and Saudi Arabia |
Those to be sanctioned include Saud al-Qahtani, a former top aide to Crown Prince Mohammed bin Salman, as well as the Saudi Consul General Mohammed Alotaibi, the source said.
The sanctions will be implemented under the Global Magnitsky Act, which imposes sanctions over human rights abuses, the source said.
Among others facing sanctions are Maher Mutreb, an aide to Qahtani who has appeared in photographs with Prince Mohammed on official visits this year to the United States and Europe.
Note EU-Digest: The US sanctions announced by the Trump Administration are an indication the US Administration "has accepted the confusing explanations and statements" about the hideous murder of Saudi journalist Khashoggi by the Saudi Government in the Saudi Istanbul consulate", and as such concludes, "case closed and business as usual", between the US and Saudi Arabia .
U.S. sanctions 17 for role in killing of Saudi journalist Khashoggi
November 5, 2018
Iran: don!t threaten us, Iranians tell US
Don't threaten us,' Iranians tell US as sanctions set to return -
Read full report at:
http://aje.io/mkcgg
September 16, 2018
Hungary: EU lawmakers vote with overwhelming majority against Hungary over rule of law
EU lawmakers move against Hungary over rule of law
For the complete report go to:
http://flip.it/mvWcan
http://flip.it/mvWcan
April 17, 2018
EU does not agree with Trump Administration proposal as to new sanctions against Iran
 |
| Trump Administration burning Climate and Iran agreements |
The EU is eager to safeguard the nuclear pact, under which Tehran agreed to curb its ambitions for at least a decade, but Trump has been a fierce critic.
Commenting on the EU foreign ministers meeting in Luxembourg, Free University of Brussels political scientist Firouyeh Nahvandian said that economic ties between some European countries and Iran are much more important than damaging reports on Iran's human rights record by the United Nations or the European Parliament.
Trump has threatened not to extend U.S. sanctions relief on Iran related to the nuclear agreement.
The deal sees the West mostly lifting extensive sanctions in exchange for Iran curbing its nuclear program
EU-Digest
July 31, 2017
US playing with fire re:Sanctions: Russia is retaliating against new US sanctions in a big way - by Zack Beauchamp
Russia will force the US diplomatic mission in the country to eliminate hundreds of people from its workforce by September 1, President Vladimir Putin told state TV in an interview that aired on Sunday
"More than 1,000 workers — diplomats and support staff — were working and are still working in Russia; 755 must stop their activity in the Russian Federation," Putin said, per Reuters.
This does not mean, as early news reports suggested, that 755 US diplomats will be expelled from the country entirely — but it is a serious cut to America’s diplomatic presence in Russia.
The order is retaliation, plain and simple. On Thursday night, Congress overwhelmingly passed a new package of sanctions on Russia as punishment for the nation’s interference in the US election.
Late on Friday, the Trump administration announced its intention to sign the sanctions bill into law. The diplomatic staffing order is Putin showing he hasn’t been cowed.
This is very much not normal; countries do not generally force other countries to limit their diplomatic presence so sharply, absent a major crisis in relations.
It suggests instead that the pro-Russian stance Trump has taken, at least rhetorically, is not paying off — and that US-Russia relations are likely to keep getting worse for the foreseeable future.
Read more: Russia is retaliating against new US sanctions in a big way - Vox
"More than 1,000 workers — diplomats and support staff — were working and are still working in Russia; 755 must stop their activity in the Russian Federation," Putin said, per Reuters.
This does not mean, as early news reports suggested, that 755 US diplomats will be expelled from the country entirely — but it is a serious cut to America’s diplomatic presence in Russia.
The order is retaliation, plain and simple. On Thursday night, Congress overwhelmingly passed a new package of sanctions on Russia as punishment for the nation’s interference in the US election.
Late on Friday, the Trump administration announced its intention to sign the sanctions bill into law. The diplomatic staffing order is Putin showing he hasn’t been cowed.
This is very much not normal; countries do not generally force other countries to limit their diplomatic presence so sharply, absent a major crisis in relations.
It suggests instead that the pro-Russian stance Trump has taken, at least rhetorically, is not paying off — and that US-Russia relations are likely to keep getting worse for the foreseeable future.
Read more: Russia is retaliating against new US sanctions in a big way - Vox
July 28, 2017
Russia Sanctions: US Senate backs Russia sanctions, setting scene for EU clash - by Andrew Rettman
US senators have backed extra Russia sanctions, setting the scene for
a clash with the EU and putting at risk a new gas pipeline.
The sanctions bill sailed through the Senate by 98 votes to two on Thursday (27 July) after having passed by 419 votes to three in the House of Representatives on Tuesday.
It will become law when signed by US president Donald Trump.
A Trump spokesman told the CNN broadcaster this week that “he may veto the sanctions”, which come despite his overtures for better relations with Russian leader Vladimir Putin.
But senators said he would be unwise to do that because the whopping majority in Congress would see his veto overturned.
"It’s typically not good for presidents to veto something that can be overwhelmingly overridden,” Bob Corker, a Republican senator, told press.
Chuck Schumer, a Democratic senator, said a veto would also harm Trump’s image amid ongoing investigations into his alleged collusion with Russia to sway last year’s US election.
"If the president vetoes this bill, the American people will know that he is being soft on Putin, that he’s giving a free pass to a foreign adversary who violated the sanctity of our democracy," Schumer said.
Note EU-Digest: Once again Russia has become the whipping boy for the US political establishment.
When all else fails for US politicians who usually can't even agree among themselves what day of the week it is.
Read more: Senate backs Russia sanctions, setting scene for EU clash
The sanctions bill sailed through the Senate by 98 votes to two on Thursday (27 July) after having passed by 419 votes to three in the House of Representatives on Tuesday.
It will become law when signed by US president Donald Trump.
A Trump spokesman told the CNN broadcaster this week that “he may veto the sanctions”, which come despite his overtures for better relations with Russian leader Vladimir Putin.
But senators said he would be unwise to do that because the whopping majority in Congress would see his veto overturned.
"It’s typically not good for presidents to veto something that can be overwhelmingly overridden,” Bob Corker, a Republican senator, told press.
Chuck Schumer, a Democratic senator, said a veto would also harm Trump’s image amid ongoing investigations into his alleged collusion with Russia to sway last year’s US election.
"If the president vetoes this bill, the American people will know that he is being soft on Putin, that he’s giving a free pass to a foreign adversary who violated the sanctity of our democracy," Schumer said.
Note EU-Digest: Once again Russia has become the whipping boy for the US political establishment.
When all else fails for US politicians who usually can't even agree among themselves what day of the week it is.
Read more: Senate backs Russia sanctions, setting scene for EU clash
March 19, 2017
Netherlands -Turkey: Economics of the standoff between Turkey and the Netherlands - by Altay Atli
 |
| Mark Rutte and Recep Tayip Erdogan in the better days |
For Turkey, the Netherlands offers a large and expanding export market. Trade between the two countries has roots in the 17th century when the Ottomans exported wool and cotton (later tobacco as well) to the Netherlands and imported clothes and linen in return. Commerce between the two
countries remained strong into modern times; in 2016 the bilateral trade volume was US$6.6 billion.
The Netherlands is the 10th largest export destination for Turkey, and perhaps more importantly from the Turkish perspective, it is also a fast-growing market. Last year Turkish exports to the Dutch market amounted to $3.6 billion, against $3 billion in imports. And while the annual increase in imports was 3.4%, exports expanded much faster, at 13.8%. For the Turkish economy, which is suffering an acute current-account deficit, the increasing trade surplus with the Dutch is a precious commodity.
On the other side of the equation, Turkey is and has always been a favored destination for Dutch investment. A process that started in 1930 when the Dutch company Philips set up shop in the newly established Republic of Turkey has reached new levels since then, making the Netherlands by far the largest source of foreign direct investment in Turkey today. According to data by the Turkish Central Bank, Dutch investment stock in Turkey was $22 billion in 2016, compared with $11.2 billion in US investments in second place, and $9.8 billion from Austria in third place.
Turkey is home to 2,700 companies funded by Dutch capital. This figure includes those transnational companies registered in the Netherlands for legal and tax-related purposes. This sizeable Dutch involvement in the Turkish economy benefits both sides. For Dutch multinationals such as Unilever, ING Bank, Philips, Perfetti, Royal Dutch Shell and Philip Morris, Turkey is not only a favorable production base but also a lucrative market and a trading and logistics hub for access to the Middle East and North Africa, Balkans, Caucasus and Central Asia. More Dutch investment is set to come to Turkey, such as the recent purchase by Vitol Group of the Turkey-based fuel products distribution company Petrolofisi for $1.47 billion. Investment needs a stable political climate, and the diplomatic spat between Turkey and the Netherlands doesn’t help.
It is also worth nothing that while the amount of Turkish investment in the Netherlands is considerably smaller, there are several large Turkish firms that have set up subsidiaries enabling access to the larger EU market.
For the past week, Dutch pundits have been commenting that Turkey is more dependent on the Netherlands, so possible sanctions imposed by Ankara would only mean “shooting themselves in the foot.” Turkish authorities have imposed political sanctions over the Dutch government’s refusal to allow Turkish ministers to meet with members of the Turkish diaspora there, including halting high-level political discussions between the two countries and the closing of Turkish airspace to Dutch diplomats. But Ankara has carefully ruled out economic sanctions. Turkey’s economics minister, Nihat Zeybekçi said: “If we take these steps, both sides would be hurt.” Ömer Çelik, minister of EU affairs said the Dutch business community, which is “investing in Turkey, doing commerce and generating employment” is “certainly not a part of this crisis,” and “Dutch investment in Turkey is by no means under risk.”
Economic sanctions between Turkey and the Netherlands don’t seem likely at the moment, but longer-term threats remain. First, even if no sanctions are imposed, the significant loss of confidence caused by recent events will take a toll on bilateral economic relations for some time.
Second, the sizeable Turkish diaspora in the Netherlands, as well as the relatively smaller Dutch community living in Turkey, will face uncertainty, and this will have an economic impact too. An estimated 400,000 Turks live in the Netherlands, according to a diaspora association, and there are 25,000 businesses with Turkish owners, most of them smaller enterprises. Many of these companies are doing business with Turkey, and they are negatively affected by the current dispute between the two governments. So is the much smaller Dutch community in Turkey. But it is equally active in the economy, especially in the tourism sector. Declining tourist numbers will hurt Turkish and Dutch operators alike, and it might take some time to recover to pre-crisis levels of business.
Third, the diplomatic spat is likely to have a negative effect on efforts to revise the Turkish-EU Customs Union. The union, which took effect in 1996, is outdated, failing to catch up with the requirements of today’s global trade. Ankara and Brussels had begun talks to improve the deal, but the current circumstance is likely to overshadow attempts based on economic rationality.
This week Turkish football team Beşiktaş played the Greek side Olympiakos in the European cup. The Turks won 4-1 helped by two goals from Ryan Babel, the Amsterdam-born Dutch striker. Turkey and the Netherlands have links that are closer than many realize, and it will benefit both to keep them intact.
Read more: Economics of the standoff between Turkey and the Netherlands | Asia Times
November 12, 2016
USA: Trump-Led Thaw Between Russia, US to Undermine EU Unanimity Over Sanctions
United States President-elect Donald Trump said he would consider the possibility of lifting anti-Russian sanctions, but provided no further details.
At the same time, Morgan Stanley estimated a 35 percent chance of Washington lifting sanctions against Moscow in the coming two years.
According to the bank, Trump’s presidency will result in easing sanctions against Russian companies and individuals. Meanwhile, the European Union is now concerned over a possible thaw between Russia and the US because this will create obstacles for Brussels’ policy of sanctions.
During his campaign, Trump repeatedly said he wanted to normalize ties with Russia. After the election, he confirmed he wants a "good relationship" with Moscow. Russian markets reacted to Trump’s victory more positively than other global stocks, on expectations of an improvement in bilateral economic ties between Russia and the US.
Read more: Sputnik
At the same time, Morgan Stanley estimated a 35 percent chance of Washington lifting sanctions against Moscow in the coming two years.
According to the bank, Trump’s presidency will result in easing sanctions against Russian companies and individuals. Meanwhile, the European Union is now concerned over a possible thaw between Russia and the US because this will create obstacles for Brussels’ policy of sanctions.
During his campaign, Trump repeatedly said he wanted to normalize ties with Russia. After the election, he confirmed he wants a "good relationship" with Moscow. Russian markets reacted to Trump’s victory more positively than other global stocks, on expectations of an improvement in bilateral economic ties between Russia and the US.
Read more: Sputnik
May 27, 2016
Greece: Putin Arrives In Greece On First Visit To EU This Year
Russian President Vladimir Putin has arrived in Greece on his first
visit to the European Union this year as the bloc weighs whether to
extend sanctions against Russia amid continuing tensions over Moscow's
intervention in Ukraine.
Putin arrived in Athens on May 27 to begin a two-day visit. He is due to meet Greek President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras for energy and investment talks later in the day.
Putin's visit -- his first to the EU since December -- comes as the bloc's leaders are to discuss next month whether to renew sanctions on Russia's banking, defense, and energy sectors that expire in July.
British Prime Minister David Cameron said on May 27 that the leaders of the Group of Seven (G7) economic powers have agreed that sanctions imposed against Russia over its actions in Ukraine must be extended next month.
“The G7 has agreed on the vital importance of sanctions rollover in June,” Cameron said following a two-day G7 summit in Japan. “Ukraine is the victim of Russian-backed aggression. We must never forget that fact.”
German Foreign Minister Frank-Walter Steinmeier on May 27 floated the possibility of a "step-by-step" reduction of EU sanctions against Russia if there is progress on implementing peace accords on Ukraine.
"I hope that by the end of June there will be progress and then we can see if we can reduce the sanctions step by step, or if we stay with the measures we have right now," Steinmeier told reporters in Tallinn.
Read more: Putin Arrives In Greece On First Visit To EU This Year
Putin arrived in Athens on May 27 to begin a two-day visit. He is due to meet Greek President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras for energy and investment talks later in the day.
Putin's visit -- his first to the EU since December -- comes as the bloc's leaders are to discuss next month whether to renew sanctions on Russia's banking, defense, and energy sectors that expire in July.
British Prime Minister David Cameron said on May 27 that the leaders of the Group of Seven (G7) economic powers have agreed that sanctions imposed against Russia over its actions in Ukraine must be extended next month.
“The G7 has agreed on the vital importance of sanctions rollover in June,” Cameron said following a two-day G7 summit in Japan. “Ukraine is the victim of Russian-backed aggression. We must never forget that fact.”
German Foreign Minister Frank-Walter Steinmeier on May 27 floated the possibility of a "step-by-step" reduction of EU sanctions against Russia if there is progress on implementing peace accords on Ukraine.
"I hope that by the end of June there will be progress and then we can see if we can reduce the sanctions step by step, or if we stay with the measures we have right now," Steinmeier told reporters in Tallinn.
Read more: Putin Arrives In Greece On First Visit To EU This Year
January 26, 2016
Netherlands-Iran: Dutch begin looking for trade opportunities in Iran - by Janene Pieters
Now that the economic sanctions against Iran are lifted, Dutch companies are starting to look for trade opportunities with the Middle Eastern country. Although Minister Lilianne Ploumen of Foreign trade warns that companies will still face obstacles in Iran, there is much expectation for the opening of the market, broadcaster NOS reports.
“Iran’s economy is simply too large to ignore, with the oil, gas and financial reserves”, former ambassador in Tehran and business consultant Ronald Mollinger said to the broadcaster.
Iran was an important trading partner for the Netherlands in the past. In 2009 and 2010 the Netherlands imported nearly a billion euros in mineral resources from the country. Exports to Iran amounted to almost 600 million euros. But the economic sanctions against the country put a stop to this. Now that the sanctions are lifted – even though part of them were only conditionally lifted – there is a great desire to strengthen those bonds again, according to NOS.
Iran has the second largest gas reserves and the fourth largest oil reserves in the world. There are also many opportunities for the agricultural industry and water management.
Shell already indicated that it wants to return to the country. Dredging company Boscalis showed interest in building ports in Iran. Greenhouse builder Van der Hoeven already explored possibilities of becoming active in the Iranian agricultural sector.
Minister Ploumen of Foreign Trade and Development Cooperation warns that companies should not expect to immediately and without problems set up shop in Iran. “It will take some time before Iran is reconnected to the international payment traffic”, she said to NOS.
“A number of sanctions that were proclaimed in the past due to human rights violations in Iran also remain intact. It will therefore give limitations.” She also warned that the sanctions can be put back in place if the country does not cut back on its nuclear activities as agreed with the international community.
Read more Dutch begin looking for trade opportunities in Iran - NL Times
“Iran’s economy is simply too large to ignore, with the oil, gas and financial reserves”, former ambassador in Tehran and business consultant Ronald Mollinger said to the broadcaster.
Iran was an important trading partner for the Netherlands in the past. In 2009 and 2010 the Netherlands imported nearly a billion euros in mineral resources from the country. Exports to Iran amounted to almost 600 million euros. But the economic sanctions against the country put a stop to this. Now that the sanctions are lifted – even though part of them were only conditionally lifted – there is a great desire to strengthen those bonds again, according to NOS.
Iran has the second largest gas reserves and the fourth largest oil reserves in the world. There are also many opportunities for the agricultural industry and water management.
Shell already indicated that it wants to return to the country. Dredging company Boscalis showed interest in building ports in Iran. Greenhouse builder Van der Hoeven already explored possibilities of becoming active in the Iranian agricultural sector.
Minister Ploumen of Foreign Trade and Development Cooperation warns that companies should not expect to immediately and without problems set up shop in Iran. “It will take some time before Iran is reconnected to the international payment traffic”, she said to NOS.
“A number of sanctions that were proclaimed in the past due to human rights violations in Iran also remain intact. It will therefore give limitations.” She also warned that the sanctions can be put back in place if the country does not cut back on its nuclear activities as agreed with the international community.
Read more Dutch begin looking for trade opportunities in Iran - NL Times
December 19, 2014
Sanctions: EU may consider lift of anti-Russia sanctions if Ukraine’s territorial integrity preserved
The European Union may consider the possibility of lifting its sanctions
against Russia if Ukraine’s territorial integrity is preserved, German
Chancellor Angela Merkel said on Friday.
“We’ll see whether there is any progress in this direction. Then we can move towards lifting the sanctions,” she told a news conference after a meeting of EU leaders in Brussels.
Merkel stressed that the EU imposed its sanctions on Russia in response to developments in Ukraine and the sanctions could be removed if the cause for imposing them was eliminated. She also said she hoped that EU countries would have a consolidated position if it was necessary to extend the sanctions.
A diplomatic source in Brussels said on Friday heads of state and government from the 28-nation European Union will consider the fulfilment of the Minsk peace agreements and the possibility of lifting the bloc’s sanctions against Russia at a summit in March 2015. “Certain sanctions against Russia may be lifted at an EU summit in Brussels in March,” the source told TASS.
French President Francois Hollande also said there was no need at present to tighten European Union sanctions against Russia. “We expect there is no reason to take new sanctions and we also are going to look how we could engage in a de-escalation,” Hollande told journalists after the meeting in Brussels.
Read more: TASS: World - EU may consider lift of anti-Russia sanctions if Ukraine’s territorial integrity preserved
“We’ll see whether there is any progress in this direction. Then we can move towards lifting the sanctions,” she told a news conference after a meeting of EU leaders in Brussels.
Merkel stressed that the EU imposed its sanctions on Russia in response to developments in Ukraine and the sanctions could be removed if the cause for imposing them was eliminated. She also said she hoped that EU countries would have a consolidated position if it was necessary to extend the sanctions.
A diplomatic source in Brussels said on Friday heads of state and government from the 28-nation European Union will consider the fulfilment of the Minsk peace agreements and the possibility of lifting the bloc’s sanctions against Russia at a summit in March 2015. “Certain sanctions against Russia may be lifted at an EU summit in Brussels in March,” the source told TASS.
French President Francois Hollande also said there was no need at present to tighten European Union sanctions against Russia. “We expect there is no reason to take new sanctions and we also are going to look how we could engage in a de-escalation,” Hollande told journalists after the meeting in Brussels.
Read more: TASS: World - EU may consider lift of anti-Russia sanctions if Ukraine’s territorial integrity preserved
October 20, 2014
The Netherlands: Dutch exporters find way via Turkey to circumvent imposed Russian Sanctions
The Dutch Fruit and Vegetable publication "Fresh Plaza" reports that
Russia accuses Poland of illegal re-export, so it closed its
borders last week for all products from Poland.
The Eastern European country is reported to transport Polish produce under a false label as re-export to Russia. Traders from other countries are also reportedly using smuggling routes.
The Netherlands and Spain were recently mentioned in the media in connection with the smuggling. The Canadian borders are opened to Belgian pears. The agreement was reached after efforts from Belgium and the EU For other EU member states, similar trade agreements are on the table. In the Czech Republic, apple prices have gone down to 30%.
The country is mainly hit indirectly by the boycott, and gets little compensation from the EU for that reason. Growers in Lithuania refuse to destroy produce, so they are not entitled to receive compensation. As a result, growers are in danger of bankruptcy. And negotiations between Russia and Jordan and Iran are still going. Both countries want to significantly increase export of fruit and vegetables to Russia.
EU-Digest
The Eastern European country is reported to transport Polish produce under a false label as re-export to Russia. Traders from other countries are also reportedly using smuggling routes.
The Netherlands and Spain were recently mentioned in the media in connection with the smuggling. The Canadian borders are opened to Belgian pears. The agreement was reached after efforts from Belgium and the EU For other EU member states, similar trade agreements are on the table. In the Czech Republic, apple prices have gone down to 30%.
The country is mainly hit indirectly by the boycott, and gets little compensation from the EU for that reason. Growers in Lithuania refuse to destroy produce, so they are not entitled to receive compensation. As a result, growers are in danger of bankruptcy. And negotiations between Russia and Jordan and Iran are still going. Both countries want to significantly increase export of fruit and vegetables to Russia.
EU-Digest
July 31, 2014
Ukraine: West's Sanctions Against Russia Remain Relatively Porous - by Marcus Walker and Laurence Norman
The U.S. and Europe are stepping up their sanctions against Russia, but the restrictions remain partial and porous compared with other economic embargoes recently imposed by the West.
Bans on buying new bonds of Russian state-owned banks, or on selling some engineering technology to Russia's oil industry, are expected to hurt parts of Russia's economy.
But the measures don't touch Russia's main business with the West: the sale of natural gas and oil to Europe.
That makes the sanctions regime fundamentally different from the sweeping Western embargo that has blocked Iran from selling any oil or gas to its traditional customers in the European Union.
"The EU's core business with Russia has been left untouched," said Stefan Lehne, a scholar at Carnegie Europe, a nonpartisan Brussels think tank. Mr. Lehne said the EU is likely to adopt further sanctions against Russia, including tighter financial-sector restrictions, but that energy supplies won't be touched. "If you really restrict Russian energy exports, then you hurt the EU as much as Russia." EU leaders including German Chancellor Angela Merkel have said the sanctions can be scaled back if Moscow becomes more cooperative in the Ukraine conflict—or scaled up if it continues to support pro-Russia rebels there.
But few in Europe can imagine a boycott of Russian gas, which flowed West continuously even at the height of Cold War enmity. Many countries across the Continent have no way of replacing Russian gas quickly or affordably.
A sanctions regime that targets secondary economic ties such as banking, specialized engineering and weapons highlights the limits of the EU's room for maneuver. Despite doubts about the ability of the new measures to change the Kremlin's mind, experience shows international sanctions tend to escalate as the affected country finds ways to evade them. That leads to efforts to plug loopholes and tighten them.
And in this particular conflict, political and military events are intensifying rather than defusing the underlying conflict. "The Ukrainian military is showing greater capability, so Russia has to step back or double down" in supporting the rebels, said Robert Kahn, senior fellow at the Council on Foreign Relations in Washington.
"So far, the signs are it's likely to double down." Sanctions can be effective when accompanied by a workable political strategy to resolve a conflict through negotiations, but sometimes the EU adopts sanctions "out of a sense that something must be done," said Mr. Lehne at Carnegie Europe. "It's possible that this will be one of the effective cases, but it's not guaranteed," he said.
Read more: West's Sanctions Against Russia Remain Relatively Porous - WSJ
But the measures don't touch Russia's main business with the West: the sale of natural gas and oil to Europe.
That makes the sanctions regime fundamentally different from the sweeping Western embargo that has blocked Iran from selling any oil or gas to its traditional customers in the European Union.
"The EU's core business with Russia has been left untouched," said Stefan Lehne, a scholar at Carnegie Europe, a nonpartisan Brussels think tank. Mr. Lehne said the EU is likely to adopt further sanctions against Russia, including tighter financial-sector restrictions, but that energy supplies won't be touched. "If you really restrict Russian energy exports, then you hurt the EU as much as Russia." EU leaders including German Chancellor Angela Merkel have said the sanctions can be scaled back if Moscow becomes more cooperative in the Ukraine conflict—or scaled up if it continues to support pro-Russia rebels there.
But few in Europe can imagine a boycott of Russian gas, which flowed West continuously even at the height of Cold War enmity. Many countries across the Continent have no way of replacing Russian gas quickly or affordably.
A sanctions regime that targets secondary economic ties such as banking, specialized engineering and weapons highlights the limits of the EU's room for maneuver. Despite doubts about the ability of the new measures to change the Kremlin's mind, experience shows international sanctions tend to escalate as the affected country finds ways to evade them. That leads to efforts to plug loopholes and tighten them.
And in this particular conflict, political and military events are intensifying rather than defusing the underlying conflict. "The Ukrainian military is showing greater capability, so Russia has to step back or double down" in supporting the rebels, said Robert Kahn, senior fellow at the Council on Foreign Relations in Washington.
"So far, the signs are it's likely to double down." Sanctions can be effective when accompanied by a workable political strategy to resolve a conflict through negotiations, but sometimes the EU adopts sanctions "out of a sense that something must be done," said Mr. Lehne at Carnegie Europe. "It's possible that this will be one of the effective cases, but it's not guaranteed," he said.
Read more: West's Sanctions Against Russia Remain Relatively Porous - WSJ
March 18, 2014
Russia dismisses sanctions, gambles energy needs will weaken EU resolve - by Eric Reguly
Russia’s quick recognition of Crimea as an independent state is
risking a second round of more damaging sanctions that could unleash a
new Cold War.
On Monday night, Russian President Vladimir Putin issued a decree to declare Crimea fully independent of Ukraine. The act of defiance came a few hours after the United States and the European Union launched sanctions against about 30 individual Russians and pro-Russian Ukrainians for what was described as their role in threatening the security and the borders of Ukraine.
The sanctions, which consisted of travel bans and asset freezes, are the first retaliatory measures against Russia since Ukraine’s pro-Moscow president, Viktor Yanukovych, was ousted on Feb. 22, triggering the Russian military intervention in Crimea and Sunday’s referendum, in which Crimeans overwhelmingly approved joining Russia.
Canada joined the U.S. and the EU in imposing sanctions on 10 Russian and Ukrainian individuals.
The confrontation – increasingly reminiscent of the mutual hostility between the West and the Soviet Union – seems set to deepen.
Read more: Russia dismisses sanctions, gambles energy needs will weaken EU resolve - The Globe and Mail
On Monday night, Russian President Vladimir Putin issued a decree to declare Crimea fully independent of Ukraine. The act of defiance came a few hours after the United States and the European Union launched sanctions against about 30 individual Russians and pro-Russian Ukrainians for what was described as their role in threatening the security and the borders of Ukraine.
The sanctions, which consisted of travel bans and asset freezes, are the first retaliatory measures against Russia since Ukraine’s pro-Moscow president, Viktor Yanukovych, was ousted on Feb. 22, triggering the Russian military intervention in Crimea and Sunday’s referendum, in which Crimeans overwhelmingly approved joining Russia.
Canada joined the U.S. and the EU in imposing sanctions on 10 Russian and Ukrainian individuals.
The confrontation – increasingly reminiscent of the mutual hostility between the West and the Soviet Union – seems set to deepen.
Read more: Russia dismisses sanctions, gambles energy needs will weaken EU resolve - The Globe and Mail
March 7, 2014
Netherlands freezes hundreds of millions in Ukrainian assets: by Anthony Deutsch
The Netherlands
has frozen hundreds of millions of euros (dollars) in Ukrainian assets,
Dutch media reported Thursday night, citing the finance minister.
Finance Minister Jeroen Dijsselbloem told the ANP news agency the assets were suspect.
The Dutch media reports did not provide any details.
A Finance Ministry official could not immediately be reached for comment.
Read more: Netherlands freezes hundreds of millions in Ukrainian assets: report | Reuters
Finance Minister Jeroen Dijsselbloem told the ANP news agency the assets were suspect.
The Dutch media reports did not provide any details.
A Finance Ministry official could not immediately be reached for comment.
Read more: Netherlands freezes hundreds of millions in Ukrainian assets: report | Reuters
February 21, 2014
E.U. Imposes Sanctions Despite Russian Criticism - by Stephen Castle and Steven Lee Myers
Brushing
aside Russian criticism, the European Union agreed on Thursday to go
ahead with sanctions that include travel bans and asset freezes imposed
on those deemed responsible for the fatal escalation of violence in
Ukraine.
Britain’s foreign secretary, William Hague, said that the foreign ministers had acted because of the “widespread horror” at what had happened in Ukraine but that the number of those affected by the sanctions would depend on the behavior of the Ukrainian government.
Read More: E.U. Imposes Sanctions Despite Russian Criticism - NYTimes.com
A
day after the United States announced some similar moves, foreign
ministers of the 28-nation European Union said they would devise a list
of those who would be subject to the European sanctions, and that the
sanctions would also ban the export of equipment likely to be used for
repression in Ukraine.
But
the European foreign ministers also left themselves room to continue a
dialogue with President Viktor F. Yanukovych’s government, emphasizing
the importance of political progress in Kiev, where the foreign
ministers of France, Germany and Poland have been trying to mediate.
Britain’s foreign secretary, William Hague, said that the foreign ministers had acted because of the “widespread horror” at what had happened in Ukraine but that the number of those affected by the sanctions would depend on the behavior of the Ukrainian government.
Read More: E.U. Imposes Sanctions Despite Russian Criticism - NYTimes.com
Subscribe to:
Posts (Atom)