EU Adds 8 People to Crimean Blacklist, Leader Highlight Importance of Normandy Format

LOCAL NEWS

• EU adds 8 people to its blacklist over Crimea, including Crimean FSB chief – implementing travel restrictions and asset freezes. The list includes several judges, prosecutors and security officers and is now 185 members long.
  • EU cites full compliance with he Minsk agreements as conditions for lifting sanctions
• Putin, Merkel & Macron stress the importance of the Normandy format via phone on Monday, reiterating the need to restart the settlement process in the Ukrainian conflict. They all highlighted the importance of the Minsk agreements as the only settlement basis, which Putin said Kiev continues to dodge.
  • All leaders agreed to continue discussing a Normandy four summit on the matter. Ukraine's Zelensky said he had spoken earlier with Macron & Merkel about the issues in the Donbass and preparations for a Normandy summit
• Fitch says Russia's budget could see $50bn more revenue from oil & gas revenues than in 2020, reaching $125bn in 2021. Says 75-80% of revenues will come from oil and 20-25% from natural gas with natgas expected to remain around 20% despite its explosive price growth.
  • Notes that most of Russia's gas production is consumed domestically
• Japanese PM Kishida says Japanese sovereignty covers the South Kuril Islands, saying the issue must be resolved with Russia.
  • Says Govt plans to sign a peace treaty with Russia, but Russia says its sovereignty over these territories is cemented in international law and could not be challenged -