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🇪🇺🇷🇺 Throwing sh*t at the wall hoping it sticks tactics continue in the EU. The European Commission has unveiled its 19th sanctions package against Russia. Reich Gauleiter Ursula von der Leyen declared that frozen Russian assets will be used to provide military aid to Ukraine—saying this will be done...

68,234 Aufrufe • vor 10 Monaten •via X (Twitter)

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The EU will adopt its 17th sanctions package against Russia on May 20th. It will mainly focus on countering Russia’s evasion of existing sanctions and targeting its shadow fleet. - The package blacklists over 100 vessels used by Russia to transport oil and gas in violation of EU sanctions and the G7 price cap. These vessels are often old, uninsured, and operate under flags of convenience to obscure ownership. The new EU measures include banning these ships from EU ports and services. More than 50 individuals and entities will be targeted, including: - Russian officials and entities involved in cyberattacks, human rights violations, and destabilizing activities. - Firms and individuals in third countries, such as China, suspected of helping Russia evade sanctions by supplying dual-use technologies or other restricted goods. The sanctions will involve asset freezes, travel bans and restrictions on financial transactions. - The 17th sanctions package will tighten restrictions on the export of dual-use goods (items with both civilian and military applications) to Russia. It will include enhanced measures to prevent Russia from acquiring advanced technologies, such as semiconductors, through third countries. - Additional measures target Russia’s financial sector, with sanctions on banks or financial institutions facilitating sanction evasion. Apart from the 17th package, 3 sanctions packages will be passed on May 20th. They address Russia’s hybrid activities (e.g., cyberattacks, disinformation), human rights violations and use of chemical weapons. Collectively, these four packages are described as the "broadest ever simultaneous use of multiple EU sanctions against Russia," with over 130 individual sanctions across them.

Visegrád 24

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🌐🇧🇪Euroclear CEO warns against using frozen Russian assets to lend to Ukraine. Valérie Urbain, CEO of Belgian depository Euroclear, which manages around €185 billion in frozen Russian state assets, is urging the European Union not to touch them. In a recent interview, she warned that the plan to use the funds as collateral for a loan worth up to €165 billion for the reconstruction of Ukraine could be perceived by Russia as a confiscation, which would trigger legal and economic retaliation. “If Russia perceives this reconstruction loan to Ukraine as a confiscation of its assets, it will not stand idly by. That is why we expect legal action against Euroclear and the possible seizure of assets that we hold on behalf of our clients in Russia,” Urbain said. She added that Russia could seize Belgian assets in Russia in retaliation, which would threaten the stability of the European financial system. Euroclear, a key player in the European financial market, now holds most of the €200 billion in frozen Russian reserves since the 2022 invasion of Ukraine. The EU is already using the profits from these assets to prop up Kiev, but the assets themselves remain untouched. The European Commission is proposing to use them as collateral for a loan that Ukraine would repay from future Russian reparations. Belgium, where Euroclear is based, is the biggest opponent of the plan because of the risks to its economy. Urbain instead proposes using the assets as leverage in peace talks with Russia, and has implicitly ruled out legal action against the EU if the forced transfer were to take place. The European Council is expected to decide on the proposal at a summit on December 18-19.

🌐geopolitics in the picture

35,598 Aufrufe • vor 8 Monaten