Tuesday, July 19, 2022

"EU to soften sanctions on Russian banks to allow food trade"

From Reuters via India's BusinessToday, July 19:

The EU has so far denied its sanctions affecting the food trade. 

The European Union will amend its sanctions on Moscow on Wednesday by allowing the unfreezing of some funds of top Russian banks that may be required to ease bottlenecks in the global trade of food and fertilizers, a draft document showed. The move comes amid criticism from African leaders about the negative impact of the sanctions on the trade, which may have exacerbated shortages chiefly caused by Russia's invasion of Ukraine and its blockading of ports in the Black Sea.

Under the changed regulation, which is expected to be adopted by EU envoys on Wednesday, EU nations will be able to unfreeze previously blocked economic resources owned by top Russian lenders VTB, Sovcombank, Novikombank, Otkritie FC Bank, VEB, Promsvyazbank, and Bank Rossiya, the document said. Separately, under new sanctions to be adopted on Wednesday, Sberbank, Russia's largest bank, will also become subject to the freezing of its assets, with the exception of resources needed for food trade, an EU official told Reuters....

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And Fox via MSN who make the point that through all this, African nations have been a bit freaked out by the prospect of their citizens starving because of European sanctions. Again, July 19:

EU to soften sanctions on Russian banks to allow food trade

The European Union will amend its sanctions on Moscow on Wednesday by allowing the unfreezing of some funds of top Russian banks that may be required to ease bottlenecks in the global trade of food and fertilisers, a draft document showed.

The move comes amid criticism from African leaders about the negative impact of the sanctions on the trade, which may have exacerbated shortages chiefly caused by Russia's invasion of Ukraine and its blockading of ports in the Black Sea.

Under the changed regulation, which is expected to be adopted by EU envoys on Wednesday, EU nations will be able to unfreeze previously blocked economic resources owned by top Russian lenders VTB, Sovcombank, Novikombank, Otkritie FC Bank, VEB, Promsvyazbank and Bank Rossiya, the document said....

....MORE

If you want to make people hate you, do stuff like this:

The victim of your attempt at control via a double bind eventually will be driven crazy enough that to cut the Gordian knot of the double bind it is often easiest to dispose of their tormentor.