EU Sanctions vs Russia Targets Sberbank, 48 Individuals
U.S. online newspaper Politico has reported that the European Union (EU) has authorized fresh sanctions against Sberbank and Russian gold exports. Citing diplomatic sources, the sanctions will target 48 more individuals, nine groups, and companies on July 22, 2022.
Photo Insert: Sberbank
However, the EU blocked penalties against a Russian firm that exports titanium to member countries. After France and other member states opposed, citing possible retribution, the EU blocked a move to penalize VSMPO-Avisma PJSC.
According to reports, such a measure would harm companies such as European jet maker Airbus SE, which has urged the EU not to punish titanium shipments.
The Group of Creditors of Ukraine has announced a one-year extension of the suspension of debt repayments for Ukraine until the end of 2023. The group, which included the United Kingdom, Canada, France, Germany, Japan, and the United States, urged private-sector bondholders to follow likewise.
According to the Wall Street Journal, the loan payback was initially scheduled for August 1, 2022.
Due to Russia's energy blackmail, Germany intends to increase its gas storage targets to 95%, according to the Kyiv Independent. To ensure that there is enough power to heat homes and keep factories functioning over the winter, the German government will need storage to be 95 percent full by November 1, up from the previous goal of 90 percent, according to Bloomberg.