Free Trial

Russia Imposes Reciprocal Sanctions on UK Nationals, Govt Decides Against Fuel Export Bans

RUSSIA

LOCAL NEWS

  • Russia denies entry to several British nationals in response to UK sanctions "on the basis of reciprocity" – imposing personal sanctions on British nationals involved in "anti-Russian activities."
    • Moscow calls on the UK to "drop the absolutely ungrounded confrontational policy" noting that an "adequate and proportional response will follow any unfriendly steps"
  • Lavrov: "Western nations are seeking to hamper parliamentary elections in Russia, in particular, the OCSE is being used to complicate voting.
    • We know that additional steps are being prepared to try doubt the results of our elections – we are keeping an eye on it and will take corresponding actions.
  • Govt decides against imposing a ban on the export of gasoline from Russia to stabilise the domestic fuel market.
    • Arguments centered around the trend towards a decrease in export parity due to oil falling below $ 70 per barrel, as well as assurances from oil workers about the growth of supply on the stock exchange.
    • Govt says the prices will be managed if they rise higher than inflation (6.5%) and are currently at 5.8%. Gazprom says gasoline supply should increase in August due to repairs in Surgut and Rosneft's Kuibyshev refinery
  • European Peoples Party calls on the EU of prepare a revolution in Belarus, noting that "the Belarusian regime will fall."
    • The EPP proposed to show readiness to punish the regime by imposing sanctions and support the struggle of the people of Belarus.
    • Said it would provide EUR3bn for the democratic transition of power, similar to that in Ukraine – saying it was inevitable and just a matter of time
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.