The European Union is preparing to impose a new package of sanctions on Russia, marking the 18th set of measures since the conflict intensified. French President Emmanuel Macron indicated that the effectiveness of this package will depend on future negotiations. Meanwhile, Switzerland has imposed sanctions on 14 individuals and 41 entities, including those involved in managing shadow fleet vessels and trading Russian crude oil, banning them from entering Switzerland. Switzerland also lowered the price cap on Russian oil to $47.6 per barrel.
The Swiss government stated that a further 14 individuals and 41 entities are now subject to an asset freeze and a ban on the provision of economic resources. The newly sanctioned individuals and entities include Russian and international companies managing shadow fleet vessels, traders of Russian crude oil, and suppliers to Russia's military industrial complex.
We are preparing another package of sanctions against Russia. Its fate will depend on the negotiations in the coming days and weeks, but nothing can be ruled out.
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