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Free AccessNew Sanctions Push Underway Spurred By Navalny Death
European Union foreign ministers are meeting presently in Brussels, with a new 13th round of sanctions against Russia believe to be in the offing following the death of opposition figurehead Alexei Navalny in prison on 16 Feb. Reuters reports German Foreign Minister Annalena Baerbock stating that she is hopeful a new round of sanctions can be agreed to 'soon'. Meanwhile, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said that he hoped the sanctions would be renamed the 'Navalny sanctions regime', adding "We have to continue our support to Ukraine, and to the Russian people who want to be living in fear and to pay homage to Navalny. "
- EU Observer reportsthat the latest round of sanctions, to be discussed in detail by EU permanent representatives on 21 Feb and EU affairs ministers on 22 Feb, are intended "to hit Russian shipping firms that import North Korean weapons" These weapons are then transported to the frontline for use in Russia's invasion of Ukraine.
- There are some hold-ups "amidHungarian objections to EU export curbs on a handful of Chinese firms accused of helping Russia buy prohibited arms technology."
- "The 13th-round proposal was less ambitious than any of the previous 12 rounds, which hit Russian VIPs, banks, gas, oil, and diamond sectors, for instance. [...] The 14th would "be more comprehensive", an EU diplomat said."
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.