Deputy Energy Editor, EMEA
Barbara's Feed
Jul 30, 2014

Russian bank subsidiaries in EU to escape sanctions: sources

VIENNA/BRUSSELS (Reuters) – Russian bank subsidiaries based in the European Union will be exempt from EU economic sanctions designed to choke off finance for big state-owned Russian lenders, sources familiar with the discussions told Reuters on Wednesday.

These sources said the exemption, which EU officials said they would monitor closely to avoid abuse, meant Sberbank and VTB subsidiaries could operate normally within EU member states.

Jul 29, 2014

EU agrees economic sanctions on Russia

BRUSSELS, July 29 (Reuters) – The European Union reached
agreement on Tuesday on the bloc’s first broad economic
sanctions on Russia over its role in Ukraine, diplomats said,
marking a new phase in the biggest confrontation between Moscow
and the West since the Cold War.

The measures will shut state-owned Russian banks out of
European capital markets and target the defence sector and
sensitive technologies, including oil, but exclude the vital gas
sector, on which Europe is heavily dependent.

Jul 29, 2014

EU meets to thrash out economic sanctions on Russia

BRUSSELS (Reuters) – EU diplomats met to forge a deal on Tuesday on the bloc’s first broad economic sanctions on Russia, to try to force President Vladimir Putin to defuse the crisis in Ukraine.

After months of hesitation from the European Union, the downing of a civilian flight over Ukraine earlier this month, killing all 298 people on board, has strengthened the bloc’s resolve to act and bear the brunt of any possible economic measures against Russia.

Jul 28, 2014

EU reaches preliminary deal on new names for Ukraine sanctions

BRUSSELS (Reuters) – EU diplomats reached a preliminary agreement on Monday on a list of associates of Russian President Vladimir Putin and companies that will face sanctions as part of tougher measures over Moscow’s actions in Ukraine, EU sources said.

During more than three hours of talks, they also agreed on new measures to restrict trade and investment in Crimea, which Russia annexed from Ukraine earlier this year.

Jul 26, 2014

EU edges to economic sanctions on Russia but narrows scope

BRUSSELS (Reuters) – The European Union reached outline agreement on Friday to impose the first economic sanctions on Russia over its behaviour in Ukraine but scaled back their scope to exclude technology for the crucial gas sector.

The sanctions on access to capital markets, arms and hi-tech goods are also likely to apply only to future contracts, leaving France free to go ahead with the controversial delivery of Mistral helicopter carriers being built for Russia.

Jul 25, 2014

EU reaches preliminary deal on Russia economic sanctions

BRUSSELS (Reuters) – European Union ambassadors reached a preliminary agreement on Friday to push ahead with hard-hitting economic sanctions against Russia over the Ukraine crisis but details remained to be worked out, diplomats said.

The 28-nation EU has toughened its stance towards Moscow since last week’s downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists.

Jul 24, 2014

EU’s planned sanctions against Russia to hit South Stream, Yamal LNG

LONDON/BRUSSELS (Reuters) – The European Union’s proposed sanctions against Russia, targeting sensitive technology, take aim at Gazprom’s huge South Stream gas pipeline project to Europe and Novatek’s Arctic Yamal liquefied natural gas (LNG) facility.

A draft proposal outlines a package of targeted measures in the areas of access to capital markets, defense, dual use goods and sensitive technologies, EU diplomats said on condition of anonymity.

Jul 24, 2014

EU targets state-owned Russia banks in sanctions draft

BRUSSELS (Reuters) – The European Union would target state-owned Russian banks and their ability to finance Moscow’s faltering economy in its most serious sanctions so far over the Ukraine crisis under proposals considered by EU governments on Thursday, diplomats said.

Ambassadors of the 28-nation bloc met in Brussels to discuss options drafted by the executive European Commission in response to the downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists.

Jul 23, 2014

EU says could halt technology for Russia to develop Arctic oil and gas

BRUSSELS, July 23 (Reuters) – The European Union should not
give Russia technical help to develop Arctic oil and gas fields
if Moscow does not help to defuse the Ukraine crisis, EU Energy
Commissioner Guenther Oettinger said on Wednesday.

EU officials have always said energy should not be used as a
weapon in attempts to solve the crisis over Russia’s actions in
Ukraine.

Jul 23, 2014

EU Commission agrees 30 percent energy savings goal for 2030: sources

BRUSSELS (Reuters) – The European Commission agreed on Wednesday to put forward a target to improve energy efficiency by 30 percent as part of a package of climate and energy policy for 2030, EU sources said.

Member states will decide whether the target should be binding on individual nations or at an EU-wide level, said two sources, requesting anonymity as they are not authorized to speak to the media.