MNI BRIEF: Aussie Labour Market Tightens, Unemployment At 3.9%

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EU-RUSSIA: U-Turn As 15th Sanctions Package Agreed After Initial Reservations

EU-RUSSIA
EM BulletHomepagemarkets-real-timePolitical RiskCommoditiesPolitical Risk BulletCEEMEAEnergy BulletsRussiaBulletMarketsFixed Income BulletsForeign Exchange Bullets

In what represents an about-turn, the Hungarian presidency of the Council of the European Union has announced that member state ambassadors to the EU have agreed on a 15th package of sanctions to be imposed on Russia by the Union in response to the invasion of Ukraine. Initially, it appeared as though envoys were set to reject the latest sanctions package over disagreements regarding divestiture from Russian oil and oil products. 

  • However, posting on X the Hungarian presidency said as part of the agreed sanctions, "The package adds more persons and entities to the already existing sanctions list, and targets entities in Russia and in third countries other than Russia that indirectly contribute to Russia’s military and technological enhancement through the circumvention of export restrictions. The adopted sanctions constrain the activity of additional vessels of third states operating to contribute or support actions or policies supporting Russia’s actions against Ukraine."
  • Reuters reports that "the package also includes an extension of six months for the Czech Republic to import Russian oil-based products coming mainly through Slovakia", seen as a sticking point in earlier talks. The 15th package is set to be formally approved at a Foreign Affairs Council meeting of foreign ministers on 16 Dec.
  • Bloomberg: "As part of the package, the EU proposed adding to the sanctions list several Chinese entities and a Chinese national, who controls a company that has breached EU trade restrictions;"
234 words

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.

In what represents an about-turn, the Hungarian presidency of the Council of the European Union has announced that member state ambassadors to the EU have agreed on a 15th package of sanctions to be imposed on Russia by the Union in response to the invasion of Ukraine. Initially, it appeared as though envoys were set to reject the latest sanctions package over disagreements regarding divestiture from Russian oil and oil products. 

  • However, posting on X the Hungarian presidency said as part of the agreed sanctions, "The package adds more persons and entities to the already existing sanctions list, and targets entities in Russia and in third countries other than Russia that indirectly contribute to Russia’s military and technological enhancement through the circumvention of export restrictions. The adopted sanctions constrain the activity of additional vessels of third states operating to contribute or support actions or policies supporting Russia’s actions against Ukraine."
  • Reuters reports that "the package also includes an extension of six months for the Czech Republic to import Russian oil-based products coming mainly through Slovakia", seen as a sticking point in earlier talks. The 15th package is set to be formally approved at a Foreign Affairs Council meeting of foreign ministers on 16 Dec.
  • Bloomberg: "As part of the package, the EU proposed adding to the sanctions list several Chinese entities and a Chinese national, who controls a company that has breached EU trade restrictions;"