September 29, 2022

The EU will increase sanctions against Russian oil companies

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The three largest oil corporations will fall into a new package of sanctions, which the European Union (EU) plans to adopt in the near future. This was reported on Monday, March 14, by the Reuters news agency.

The new restrictions imply a ban on EU member states from investing and transferring their financial resources to three Russian oil companies. However, several states have asked for an exception to be allowed to pay bills and continue to purchase raw materials that are important to them. The politicians made concessions.

In this regard, the announcement of the fourth package of sanctions was postponed from March 13. Discussion and approval of the amendments is scheduled for the 14th.

Earlier in the day, German MEP Gunnar Beck called it impossible in the short term to completely replace Russian gas with liquefied natural gas supplied from the United States or Qatar.

At the same time, the head of European diplomacy, Josep Borrell, during a press conference in North Macedonia, said that the EU was finalizing the fourth package of sanctions against Russia.

The day before, analysts said that gas futures prices in Europe are unstable and difficult to predict, but they can beat the record high of $4,000 per 1,000 cubic meters. m in the near future. On March 7, gas prices in Europe for the first time in history exceeded $3,000 per 1,000 cubic meters. m. Then the quotes stopped at $3892.

Earlier, on March 11, the head of the European Commission, Ursula von der Leyen, said that by mid-May a plan to eliminate the EU’s dependence on Russian energy resources by 2027 would be presented. Following the informal EU summit in Versailles, German Chancellor Olaf Scholz spoke about the alliance’s plans to quickly reduce dependence on energy supplies from third countries, including Russia.

On March 8, the US imposed a ban on all Russian energy imports. At the same time, US President Joe Biden noted that Washington understands that allies in Europe will not be able to join the ban, but noted the desire to continue discussing this possibility with them.

Economic and political sanctions against Russia were imposed by Western countries after Russian President Vladimir Putin announced the start of an operation to protect the civilian population of Donbass on February 24. A few days earlier, the situation in the region escalated due to shelling by the Ukrainian military. The authorities of the Donetsk and Lugansk People’s Republics announced the evacuation of residents to Russian territory, and also turned to Moscow for help. On February 21, Putin signed a decree recognizing the independence of the DPR and LPR, as well as documents on friendship and mutual assistance.

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