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Free AccessEU Parl't Backs Resolution Calling Russia State Sponsor Of Terrorism
MEPs have voted in favour of a resolution labelling Russia a 'state sponsor of terrorism', with 494 voting in favour, 58 against and 44 abstaining. The European Parliament has sought to encourage all member states to adopt the same designation.
- At present, only individuals or organisations can be blacklisted by EU sanctions. The Parliament is backing a legal change to allow entire countries to be placed on the sanctions list, in a similar system to that used in the United States. This would hugely restrict the level of interaction on a trade and diplomatic level (already largely cut off) and punish third-party nations engaging in trade with Russia, particularly those supposedly supplying weapons to Moscow (i.e. Iran).
- However, this change would require unanimous approval from EU member states. The prospect of getting perennial holdout Hungary to back such a change at present remains an unlikely prospect.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.