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Hungary blocks EU sanctions changes, holding up $50 billion G7 loan package for Ukraine
The landmark decision to provide Ukraine with a $50 billion loan from the profits of frozen Russian assets has been held up after Hungarian Finance Minister Mihaly Varga announced the blocking of necessary changes to the European Union's sanctions regime on Oct. 8. During the June Group of Seven (G7) summit in Italy, G7 leaders […]
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Hungary vows to block potential EU sanctions on Georgia over protest crackdowns
Hungarian Foreign Minister Peter Szijjarto has pledged to veto a proposal to impose EU sanctions on Georgian officials, for their crackdown on anti-government protests, the First Channel of Georgia reported on Dec. 10. Speaking alongside Georgian Foreign Minister Maka Bochorishvili, Szijjarto criticized the EU and the “international liberal elite” and claimed that he is “categorically […]
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EU preparing 15th sanctions package against Russia, targeting foreign-made parts
The EU is readying its 15th package of sanctions against Russia, targeting foreign-made components found in Russian weaponry, the EU's chief diplomat, Josep Borrell, said in Kyiv on Nov. 9. "We have to strengthen anti-sanctions circumvention measures because Russia cannot produce (weaponry) without imported parts, chips and other components," Borrell said at a news conference […]
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Orban to reportedly block EU's Russia sanctions extension until Trump takes office
Hungarian Prime Minister Viktor Orban told EU leaders he plans to wait until U.S. President-elect Donald Trump takes office before deciding on an extension of the bloc's sanctions against Russia, Bloomberg reported on Dec. 19, citing undisclosed sources. The EU sanctions must be extended by unanimous vote every six months, with the deadline for the […]
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US, South Korea, Japan launch multinational group to monitor North Korea sanctions
The U.S., South Korea, and Japan launched a new multinational group to monitor the implementation of sanctions against North Korea, Reuters reported on Oct. 16. The move came after Russia and China blocked monitoring activities at the United Nations. In March, Moscow vetoed the annual renewal of the panel of experts monitoring U.N. sanctions against […]
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US considering implementing harsher sanctions on Russian oil ahead of Trump's inauguration, Bloomberg reports
The Biden administration is considering implementing new, harsher Russian oil sanctions ahead of the inauguration of U.S. President-elect Donald Trump, Bloomberg reported on Dec. 10, citing its sources. Oil revenues are a crucial source of funding for Russia's war machine, and have been repeatedly targeted by Western sanctions since the start of full-scale invasion of […]
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EU widens sanctions on Iran for supporting Russia's war
The European Union expanded sanctions against Iran on Nov. 18 in response to Tehran's support for Russia in its war against Ukraine, according to the European Council. The council announced a "transaction ban prohibiting any transaction with ports and locks that are owned, operated or controlled by listed individuals and entities or are used for […]
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US announces new sanctions against Chinese, Russian producers of drones used in Ukraine
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced on Oct. 17 new sanctions against two Chinese entities and one Russian company, as well as one Russian national, involved in the production of Russian Garpiya drones used to attack Ukraine. Reuters reported in September that Russia had secretly established a development and production […]