Tag: sanctions

G7 Promises Russian Oil Embargo

Only now, as it becomes clear that Russia is not buckling under the previous sanctions, have countries begun to put the most serious sanctions on the table: those that touch on Russia’s energy empire.

New EU Sanctions Target Russian Oil and Orthodox Church

Experts warn that cutting off Russian oil imports will increase the price of gasoline for European consumers. They also caution that delayed onset of the sanctions will only give Russia time to sell its oil elsewhere before losing European business, weakening the effects of the sanctions.

Ukraine Atrocities Fallout: Russia Pushed Further Into Pariah Status

On April 7th, the EU Parliament voted to place an embargo on Russian oil, gas, and nuclear fuel, which was closely followed by a EU Commission ban on its coal exports. Meanwhile, the UN General Assembly suspended the country from its Human Rights Council.

Hungary Supports EU’s Sanctions against Russia

“This is the time to be united. This is a war … Russia is condemned by all European leaders, among them Hungary, of course,” Hungarian Prime Minister Viktor Orban said.

SWIFT Sanctions Finally Hit Russia

Banning Russia from SWIFT may be one of the quickest ways to cripple Russia financially, but some European countries hesitated to enact such a sanction because it makes commerce with the country nearly impossible.