Latviski English По-русски
Monday 30.11.2015 | Name days: Andrejs, Andrievs, Andris

EU and USA announce new sanctions against Russia

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThis Tuesday, July 29th, U.S. President Barack Obama announced the United States join the European Union in the introduction of additional sanctions against Russia in energy, arms trade and financial sectors.

‘The major sanctions we’re announcing today will continue to ratchet up the pressure on Russia including the cronies and companies supporting Russia’s illegal activities in the Ukraine,’ – noted Obama.

‘Russia is once again isolating itself from the international community’, – he added.

Obama then immediately said that USA is not starting a new Cold War with this. He did warn, however, that USA and EU are running thin on patience over Russian President Vladimir Putin’s actions.

The U.S. President emphasized that the measures that were announced this Tuesday will impact important sectors of Russia’s economy – energy, arms trade and financial sectors. Obama said sanctions will block all exports of specific products of energy sector and related technologies to Russia. United States and the EU now expand their sanctions against Russian banks and defence contractors.

Shortly before Obama’s speech, the U.S. Treasury Department announced it would present sanctions against three influential banks in Russia in order to force Moscow to stop supporting Ukrainian separatists.

Washington has forbidden all U.S. citizens or persons under U.S. jurisdiction to perform transactions of any kind with VTB, its subsidiaries or other Russian banks.

This Tuesday, EU ambassadors finally reached an agreement on the introduction of the third phase of sanctions against Russia.

According to diplomats, these sanctions will limit the access of Russian banks to financial markets. Sanctions will also prohibit trade of arms, energy products and other specific goods to Russia.

It is said the new sanctions will come into force this Thursday.

It is expected that the updated list of personae non gratae will be announced this Wednesday.

Shortly after USA announced the new sanctions against Russia, Canada came forth with its own batch of sanctions.

‘In the wake of continued aggression by Russia, which includes the ongoing supply of logistical support and weapons systems to agents of the Putin regime in Eastern Ukraine, Canada is announcing its intent to once again increase economic and political pressure, in the coming days, by imposing additional sanctions on the regime and those closest to it,’ – said Canadian Prime Minister Stephen Harper.

More information about new Canadian sanctions will become available in the next couple of days.


Leave a reply

  1. mike walsh says:

    BBC reports that today the shares of the main Russian companies have raised in the stock market also the ruble has appreciated against the US dollar.  This is pretty logical since the markets are wiser than the donkey politicians we the EU/USA citizens are enduring.

    Thumb up 0 Thumb down 0

    • jj says:

      You are showing your ignorance.

      They rose simply because investors had been fearing tougher sanctions (which is why prices had been falling in previous days).
      Share prices are always based on future expectations.

      Thumb up 0 Thumb down 0

Solidarity tax to be adopted in Latvia next year

On Monday, 30 November, Latvian Saeima approved the Solidarity Tax Law in the final reading. This tax will apply to socially insured people – employees and self-employed people whose annual income exceeds the maximum amount of state social insurance – EUR 48,600.

Retail trade turnover in Latvia up 5.7%

Compared to September, Latvia’s total retail trade turnover rose by 1.4% in October 2015, according to seasonally adjusted data at constant prices. Retail trade in food products grew by 1.0%, and turnover of non-food products – by 1.7%.

Latvia’s Gross Domestic Product grows 1% in Q3 2015

Compared with Q2 2015, Latvia’s GDP at constant prices, according to seasonally adjusted data increased by 1.0% in Q3 2015. In Q3 2015, GDP value at current prices was EUR 6.4 billion.

Reirs rates Latvia’s 2016 budget with an eight out of ten

On a scale of one to ten, Latvia’s budget of 2016 can be given an eight, said Latvia’s Finance Minister Janis Reirs prior to an extraordinary meeting of the Saeima.

SP: terrorists’ video about threats to Baltic States contains no direct plans of attack

The announcement made by the terrorist organization calling itself the Islamic State or Daesh regarding threats towards Baltic States, according to Latvian Security Police, is part of this terrorist organizations propaganda campaign against its ideological enemies. It is not an announcement of plans to attack Baltic States, officials say.

Lufthansa agrees to raise pay to 30 000 workers

In a hope to avoid large strikes at Lufthansa, Europe's largest airline has on November 28 agreed with 30 000 ground staff on a one-off payment of €2,250 and a 2.2% pay rise.

EU and Turkey agree on action to reduce migrant flow to Europe

At an EU-Turkey summit in Brussels on November 29 Turkey pledged to reduce migrant flow to Europe through its territory in exchange for financial aid, potential visa-free travel and continued ES accession talks.

Latvian legislators propose amendments in relation to bail money

Shortly after the release from custody of former head of LDz Ugis Magonis in exchange for bail of EUR 400,000, the Saeima received a proposal to amend rules regarding bail money to make sure investigators are informed of the origin of this money.

Week in Lithuania. Islamic State includes Lithuania into its «coalition of devils»

A new propaganda video purportedly to be released by Islamic State names a «global coalition» of the terrorist organization’s enemies that includes Lithuania.

No Freedom Prize for modern Lithuania’s architect Vytautas Landsbergis - still more divisive

Retired from active politics, Vytautas Landsbergis, one of the architects of modern Lithuania, is nowadays busy with scribbling memoirs shedding light on the events that broke down the Soviet Union and shook the word.

Snow expected in Latvia on weekends

So far, meteorological winter has been registered in Latgale, most of Vidzeme and Zemgale in Latvia. This is because average air temperature in most of the country has dropped below 0° C.

PHOTO: partially finished atrium of Stradins Hospital

Pauls Stradins Clinical University Hospital’s new building is gradually becoming more and more life-like – SBRE construction company has partially finished the installation of the atrium’s glass frame. In addition, a temporary heating system was set up for two of the hospital’s wards in November.

Estonian ministry drafts female Muslim headwear ban

Estonia's Justice Ministry is working on a bill that sets forth a ban on wearing face-covering traditional Muslim female dress in public places and institutions such as government agencies, schools and hospitals.

Latvians still have the smallest wages after taxes in Baltic States

In Q3 2015 the average monthly gross wages and salaries in the country accounted for 829 euros. As compared to Q3 2014 they increased by 7.3%, which is a more rapid growth than in the 1st quarter (6.2%) and second quarter (6.4%).

Latvian teachers organize a one-day warning strike

On Friday, 27 November, 912 education institutions across Latvia hold a one-day warning strike. According to information from Latvian Education and Science Workers Union, 24,546 workers of Latvia’s education and science field will take part in this strike.

Ventspils nafta worked with EUR 26.89 million in profit in 2015

Ventspils nafta worked with EUR 26.89 million net profit in the first nine months of 2015. The company’s consolidated revenue, on the other hand, increased 8.1%, reaching EUR 134.91 million.

Latvian government supports allocation of EUR 4.3 million for Turkey

Latvia will pay EUR 4.3 million to assist Turkey in resolving its refugee problem and support the country in talks with the European Union. This was decided by the Latvian government during talks about the Foreign Ministry’s prepared national position for Latvia’s participation in the EU-Turkey summit.

France holding memorial service for victims of November 13

A national memorial service in memory of the 130 people killed and more than 350 people injured in terror attacks on November 13 in Paris is to be held in France on November 27.

airBaltic welcomes Bombardier CSeries aircraft in Riga

On Thursday, 26 November, Latvia’s national airBaltic airline welcomed Bombardier CSeries CS 100 aircraft at Riga International Airport as part of Bombardier demonstration tour in Northern Europe.

Crops in Latvia are prepared for upcoming

All winter crops in Latvia have managed to develop a sufficient root system that will allow them to survive winter well. However, the drought of this year’s summer and autumn may still affect some crops in spring.

Coface: Germany’s industrial sector has been struck by ‘momentary weakness’

Germany’s industrial sector’s results of Q32015 were largely negative, which prevented the sector from contributing to the country’s GDP growth. The situation was largely impacted by emerging challenges in the biggest developing markets, as concluded by Coface experts.

Wizz Air signs the first leasing agreement with Chinese CCB Financial Leasing

The largest low-cost airline in Central and Eastern Europe – Wizz Air – has announced the signing the first lease agreement with CCB Financial Leasing for 11 Airbus A321ceo1 aircraft. This will be Wizz Air’s largest lease agreement yet.

Even EUR 51 million short Lembergs family remains the richest in Latvia

Although the family’s fortune has dropped to EUR 120 million, Latvia’s wealthiest family remains the Lembergs family – Aivars, Anrijs and Liga, according to information compiled by Lato Lapsa and Kristine Jancevska, Laika stars and Lursoft.

Social protection expenditure up 2.3% in Latvia

In 2014, social protection expenditure in Latvia accounted for EUR 3 359.6 million, which is EUR 76.4 million or 2.3% more than in 2013. The biggest growth was recorded in expenditure on support to families and children (of 12.7%), as well as on support to persons with disability (of 12.0%).

USA’s consumer satisfaction reaches highest mark in the past decade

In spite of multiple economic and political challenges, migration crisis and geopolitical complications, the level of optimism in Europe and USA had grown in Q3 2015. An increase has also been noted in relation to people’s readiness to spend money on their lifestyle.