News Analysis Beijing has a number of options to offset the impact of Western sanctions on Moscow, but none are big enough to save Russia, and all would decrease China’s chances of hitting its 5.5 percent growth target, which is already the lowest in decades. Just before the Ukraine invasion, Beijing and Moscow signed an…
US Adds Dozens of Kremlin-Linked Russians to Sanctions List
March 12, 2022
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Dozens of Kremlin-linked Russian individuals and entities have been added to a sanctions list over what the U.S. Treasury Department described as their “enabling Putin’s war against Ukraine.” Treasury said in a March 11 statement that its Office of Foreign Assets Control (OFAC) had issued new sanctions “targeting Russian and Kremlin elites, oligarchs, and Russia’s political and…
EU Eyes More Russia Sanctions, Denies Ukraine Quick Membership
March 11, 2022
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VERSAILLES, France—The European Union is ready to impose even harsher economic sanctions on Russia and might give Ukraine more funds for arms to fight Moscow’s invasion, leaders decided in two days of talks in France, but drew a line on allowing Kyiv rapid access to the bloc. Ukraine, a former Soviet republic that has sought…
China Attempts to Undermine the West’s Sanction Resolve
March 11, 2022
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News Analysis Beijing on March 10 announced that it will retaliate if the United States attempts to sanction Chinese firms over the current conflict between Russia and Ukraine. “In the process of settling relations with the Russian Federation, the US is not entitled to impose so-called sanctions against Chinese companies and individuals,” Chinese Foreign Ministry…
Russia Says It Has Enough Fossil Fuel Buyers Even With Sanctions
The Russian Federation has signaled once again that it does not expect serious harm to befall its fossil fuel industry amidst economic sanctions and international isolation, arguing that it will continue to find buyers, even if Europe and the United States cease doing business with Russian oil exporters. “We will not persuade anyone to buy…
Canada Sanctions Russian Oligarch Abramovich as Trudeau Departs Europe Amid War
Prime Minister Justin Trudeau capped a weeklong European trip Friday by slapping new sanctions on the Russian oligarch Roman Abramovich, who has become an international poster boy for the largesse that enabled President Vladimir Putin’s war on Ukraine. Abramovich is a major shareholder in Evraz, a British multinational manufacturing company that operates a steel mill…
South American Nations Push to Exclude Fertilizer From Russia Sanctions
March 11, 2022
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SAO PAULO—Six South American nations are proposing the exclusion of fertilizer from sanctions on Russia, a major world producer whose invasion of Ukraine has disrupted supplies, Brazil’s Agriculture Minister Tereza Cristina Dias said on Thursday. She said Brazil has secured the support of Argentina, Bolivia, Chile, Paraguay, and Uruguay for a proposal excluding fertilizer products…
Rio Tinto Slashes Ties With Russian Businesses Over Ukraine War
March 11, 2022
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Rio Tinto on Thursday became the first major mining company to announce it was cutting all ties with Russian businesses, joining a raft of leading Western companies in a pullout following Moscow’s invasion of Ukraine. The global miner has previously said it has no operational assets or employees to pull out of Russia, or Ukraine,…
Portugal Says Sanctions Against Abramovich Don’t Apply Outside UK
March 10, 2022
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LISBON—Portugal said on Thursday that sanctions imposed by Britain on billionaire Chelsea soccer club owner Roman Abramovich, a Portuguese citizen since last year, did not apply outside the United Kingdom due to its exit from the European Union. In a statement sent to Reuters, the justice ministry also said EU sanctions against Russian oligarchs due…
How Much Can China Help Russia Amid Sanctions?
March 10, 2022
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News Analysis As sanctions cripple the Russian economy, Russian officials are likely to seek ways to prop up their economy. With the Chinese regime refusing to participate in Western sanctions and reiterating its “rock solid” friendship with Russia, it may present an avenue for Russia to circumvent the punitive measures. How Have Sanctions Affected Russia?…
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