Schwarzenegger Rips Europe For Buying Russian Fuel

Before the Austrian World Summit in Vienna, Hollywood star and former California Governor Arnold Schwarzenegger slammed Europe, saying, "We have blood on our hands because we are financing the war."

Photo Insert: "We have blood on our hands because we are financing the war," said the former California Governor.

The European Union (EU) has only imposed a partial oil embargo on Russia but has refused to impose an outright ban on Russian gas, according to Ukraine Daily on June 15, 2022.

In fact, the U.S. Department of Treasury has extended several Russian banks’ licenses for energy-related transactions. The list includes Russia’s central bank, Sberbank, VTB Bank, Alfa-Bank, and a few others. The license, which allows purchases and production of oil and oil products, coal, and wood, was extended until Dec. 5.

Western countries have imposed sanctions on major Russian banks but have been criticized for creating a major exception for oil and gas transactions.

Meanwhile, U.S. President Joe Biden has declared that silos will be built near the Polish border to handle Ukrainian grain for export. Since Russia has closed Ukraine's Black Sea ports, the objective is to increase grain shipments by rail.

This could assist Ukraine in selling 20 million tons of grain that has been stranded in the nation owing to the conflict.

Ukraine and the EU have also agreed to liberalize road transport. The cabinet has agreed on the final version of the special agreement with the EU, according to Mustafa Naiem, deputy infrastructure minister. The agreement, which is due to be signed by the end of June, calls for the permit system for Ukrainian carriers to be abolished.

The European Bank for Reconstruction and Development (EBRD) will also lend Ukraine's Naftogaz 300 million euros. According to the bank, the funds will be used to compensate for a drop in natural gas production by oil and gas firm Naftogaz Ukrainy as a result of the Russian invasion.

According to EBRD Vice President Alain Pilloux, replenishing Ukrainian gas stocks should begin immediately in order to avoid "serious consequences in the autumn," when the heating season begins.

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