The European Union has approved a 17th package of sanctions against Russia, aimed at increasing pressure on the Russian economy and limiting opportunities to circumvent previously imposed restrictions. A key element of the new package is the introduction of sanctions against Russia’s so-called “shadow fleet” — a network of ships used to circumvent sanctions and export oil.
Sanctions against the “shadow fleet”
As part of the new sanctions package, the EU has imposed restrictions on around 200 vessels linked to Russia’s “shadow fleet.” These vessels, often old and poorly insured, are used to transport Russian oil in circumvention of the restrictions in place, including a price cap of $60 per barrel.
Sanctions against companies and individuals
The new sanctions package also includes:
31 companies involved in arms supplies and sanctions evasion.
75 individuals linked to the Russian military-industrial complex, including judges involved in cases against opposition figures.
Financial institutions supporting Russia’s military actions.
Protection of critical infrastructure
The EU has also imposed sanctions on organizations and individuals involved in cyberattacks, human rights violations, and sabotage of critical infrastructure, including submarine cables and energy facilities.
Outlook
Despite the introduction of the 17th package of sanctions, additional measures are being discussed, including the possible introduction of 500% tariffs on Russian oil imports to countries that continue to purchase it. Restrictions on imports of liquefied natural gas (LNG) from Russia are also being considered.
The European Union recently postponed punishing Apple and Meta Platforms, temporarily avoiding a conflict with U.S. President Donald Trump’s administration while working on a trade deal with the United States, The Wall Street Journal reported.
“The two titans of digital advertising face unprecedented legal threats over tactics they used to achieve dominance,” the publication writes, specifying that antitrust measures are involved.
The European Commission initially planned to announce suspension orders against the tech giants, an informed source told the publication. Both companies could also be fined, the report said.
Chinese and EU authorities have agreed to resume talks on duties on electric cars, the Chinese Ministry of Commerce said at a press conference. The talks will resume as soon as possible to create favorable conditions for investment and cooperation between Chinese and European companies, the ministry said.
US President Donald Trump announced the day before that he would impose additional 34 percent duties on goods from China and 20 percent duties on EU shipments. Earlier, he also imposed 25% duties on all car imports. In turn, the EU imposed higher duties on Chinese electric cars last year, including 17 percent for BYD, 18.8 percent for Geely and 35.3 percent for SAIC.
In January, the three companies went to the Court of Justice of the European Union to appeal the new duties. Last November, Beijing and Brussels discussed the possibility of replacing duties for China with an obligation to sell electric cars at a minimum price.
Chinese authorities, duties on electric cars, EUROPEAN UNION
On April 3-4, the first-ever summit meeting between the EU and Central Asian countries will take place in Samarkand. This landmark event will open a new page in relations between the regions, marking a transition to a qualitatively new level of multilateral cooperation.
Since the emergence of newly independent states in Central Asia, the EU has been working to establish bilateral partnerships with them. Since 1991, the development of the EU’s strategy in Central Asia has gone through several important stages, which were driven by changes in the system of international relations, the dynamics of European integration, and the role of Central Asia in global politics.
The first large-scale program of cooperation was the Technical Assistance to the Commonwealth of Independent States (TACIS, 1991-2006), which supported the countries of the region in political and economic reforms, transition to a market economy and strengthening the rule of law. More than 3,000 projects were implemented under this initiative, totaling more than €7 billion. The key achievement of TACIS was the conclusion of Partnership and Cooperation Agreements with the countries of Central Asia.
Another important milestone was the adoption of the first EU Strategy for Central Asia in 2007. This period was marked by the beginning of the perception of Central Asia as a single region. A mechanism of annual meetings at the level of foreign ministers was created.
The policy of neighborhood and regional partnership implemented by the Republic of Uzbekistan under the leadership of President Mirziyoyev made a significant contribution to the rethinking of the strategy. As a result of joint efforts, a completely new political atmosphere has emerged in Central Asia. In a few years, many problems that had been accumulating for decades were resolved. As a result, the region is becoming a space for mutually beneficial cooperation and sustainable development.
In other words, Central Asia is no longer just a bridge between the East and the West, as it was traditionally perceived, but an independent actor in international relations.
Central Asian states are interested in attracting European investments, technologies and innovations for sustainable development. The EU is actively cooperating with the regions in politics, security, trade, investment, and cultural and humanitarian relations, strengthening the legal framework for cooperation. Kazakhstan and Kyrgyzstan have already signed partnership agreements with the EU, and Turkmenistan, Tajikistan, and Uzbekistan are preparing to sign theirs. In October 2023, a Joint Roadmap was adopted to deepen ties between the EU and Central Asia.
In recent years, Brussels has been building relations with five Central Asian states under Comprehensive Partnership and Cooperation Agreements. To date, Kazakhstan and Kyrgyzstan have already signed such agreements with the EU. In March 2024, Turkmenistan signed a protocol to the Agreement, and Tajikistan and Uzbekistan are finalizing preparations for signing the document.
An additional impetus to the development of cooperation was given by the adoption in October 2023 of the Joint Roadmap for Deepening Ties between the EU and Central Asia.
The European Union remains the largest investor in Central Asia, accounting for more than 40% of foreign direct investment over the past ten years (over €100 billion).
One of the areas of strategic partnership is the development and processing of mineral resources. In the context of diversification of supplies of critical materials, Central Asian countries are playing an increasingly important role in the global market. The signed Memoranda of Understanding with Kazakhstan (2022) and Uzbekistan (2024) allow European companies to intensify cooperation with the region’s countries in high-tech areas.
Among the infrastructure projects aimed at developing the region’s logistics potential, the China-Kyrgyzstan-Uzbekistan railway project plays a special role.
A new impetus to the development of cooperation was given by the results of the first investment and transport forum of Central Asia and the EU, held in January 2024 in Brussels. During the event, it was announced that 10 billion euros would be allocated to modernize the Trans-Caspian International Transport Route connecting Asia and Europe.
Another important area of partnership with the EU is the digital integration of Central Asia into the global economy. In March of this year, during the regional visit of EU Commissioner J. Sikela, the TEI Digital Connectivity project was launched to develop satellite communications, expand broadband Internet access, support digital innovation, and improve cybersecurity.
The fight against climate change and the transition to sustainable development remain a key aspect of cooperation, with the main initiatives being the SECCA project under the Team Europe strategy, the CAWEP Water and Energy Program, and Green Central Asia.
The EU remains not only an important trade, economic, and investment partner for the region, but also a key benchmark in the field of sustainable development, digital transformation, and environmental programs.
Consumer prices in Italy, harmonized with European Union standards, rose by 2.1% year-on-year in March, according to preliminary data from the Istat statistical agency. The rate of increase accelerated from 1.7% in February and became the highest in a year and a half (since September 2023).
Analysts on average had forecast a 1.9% rise this month, according to Trading Economics,
The increase in consumer prices in March compared to the previous month amounted to 1.6% (after an increase of 0.1% in February).
Consumer prices in Italy, calculated according to local standards, increased by 2% yoy (also the highest in a year and a half) after rising by 1.6% in February.
Energy prices went up by 1.3%, tobacco products by 4.6%, food by 3.3%, and communication services by 0.8%.
Core inflation (excluding volatile energy and food prices) amounted to 1.7% in annual terms this month.
http://relocation.com.ua/v-italii-v-berezni-pryskorylasia-inflia/
The European Union has expanded the sanctions list against Belarus, including seven legal entities and 25 individuals.
The corresponding decision of the Council of Europe was published in the Official Journal of the EU on Thursday.
The list of sanctioned companies includes: Integral, the managing company of Integral Holding (a major manufacturer of microelectronics), Planar (a major manufacturer of microelectronics, including military purposes), the state enterprise Plant of Precision Electromechanics (part of the State Military Industrial Committee of Belarus, according to the EU, produces, including ballistic missiles).
The list also includes SE “Belarusian Lotteries” (part of the Department of Presidential Administration of Belarus, has the exclusive right to organize lotteries), the company “Belbet” (online casino, managed by SE “Belarusian Lotteries”), LLC “Ridotto” (develops applications for online games), LLC “Tsybulka-Bel” (agricultural company, according to the EU, owned by German citizen Jorg Dornau).
The sanctions were also imposed on Sergei Avakov (CEO of Planar), Yuri Chorny (director of the Plant of Precision Electromechanics), Dmitri Shvedko (entrepreneur, majority shareholder and director of Ridotto), Mikhail Denisenko (director of the State Enterprise Belarusian Lotteries).
In addition, sanctions were imposed on the Central Election Commission of Belarus, its members, a number of judges, the manager of the presidential affairs of Belarus, Yuri Nazarov and his deputies.
