© Ys7485 | Dreamstime.com
On 10 June 2022, Switzerland’s government adopted the latest set of EU sanctions against Russia and Belarus, including an embargo on crude oil and certain refined petroleum imports from Russia.
The sanctions are the sixth package and were adopted by the EU on 3 June 2022. An embargo on oil imports from Russia by sea will be introduced progressively from early December 2022, and a ban on all Russian oil imports will then start two months later.
Around 40% of the gas and a quarter of the oil consumed in Europe comes from Russia.
This week Russian President Vladimir Putin said that the West is unlikely to reject Russian energy for years. In addition, rising oil and gas prices mean Russia is winning and losing at the same time. Reuters reported that U.S. energy security envoy Amos Hochstein told lawmakers during a hearing on Thursday that Russia may be getting more revenue from its fossil fuels now than shortly before its invasion of Ukraine, as global price increases offset the impact of Western efforts to restrict its sales.
The latest round of EU sanctions against Russia and Belarus extends the list of sanctioned individuals by around 100. These include military personnel deemed responsible for the atrocities committed in Bucha and Mariupol along with Alina Kabaeva and Aleksandra Melnichenko, the wife of Russian billionaire Andrey Melnichenko.
Full story here Are you the author?
Tags: Editor's Choice,Featured,newsletter,Personal finance,Politics
