Posted on 10/01/2022 11:30:49 AM PDT by BeauBo
The European Union is preparing the eighth round of sanctions against Russia as Moscow escalated its war in Ukraine by holding illegal referendums in four Ukrainian regions...
On Thursday, European Commission President Ursula von der Leyen presented the Commission’s proposals for the eighth package of sanctions in response to Russia’s escalation of the war in Ukraine.
“Today, in this package, here, we are laying the legal basis for this oil price cap,” von der Leyen said, commenting on the G7-led idea of banning Russian crude oil from imports by sea unless the oil is sold at or below a certain price the buyers expect to set.
The eighth package is planned to include further restrictions on trade with Russia.
A sanctions package would need unanimous approval by all 27 EU member states, but Hungary has said it would block new energy sanctions against Russia.
(Excerpt) Read more at oilprice.com ...
That is a concern, however two can play at that game.
A Russian oil tanker is blown up at sea, so an American LNG Tanker blows up, ... in a Western European LNG Terminal, (there are 12).
Also, Maritime Insurance generally excludes Acts of War, so New Insurers won't have a problem with issuing policies.
We may see who's Bluffing, if anyone.
“Russia is running a larger surplus to it Treasury than last year”
Was.
Wow, just quoting Putin.
Mindless.
Soulless.
Doomed.
It won’t be ok, but it will not be dire.
Most countries except Germany and Bulgaria are off Russian gas. Germany will have a hit to its industry but not to warming its people.
Germany should have listened to trump and cut off Russian gas years ago.
The rouble is not the “top performing currency “ for the simple reason that it is practically not bring traded at all.
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