EU TO BLOCK SALES OF EUROPEAN PROPERTY INVOLVING RUSSIANS PAGE 39

 May 5 , 2022

 EU Proposes Property Transaction BAN With Russians

Among the sixth round of anti-Russia sanctions launched by the EU is a proposal to block all sales or transfers of European property involving Russian individuals, residents or entities. (Bloomberg)

Member states must sign off on the plans before they come into action, and they may still be altered, although those holding EU citizenship or residency status will be exempt.

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Chinese Independent Refineries Secretly Snap Up Discounted Russian Oil (reports)

A Financial Times report indicates that independent Chinese refineries have been covertly sidestepping western sanctions on buying Russian oil by taking crude purchase quotas from state-owned commodity trading enterprises.

A refinery in Shandong reportedly admitted to being anxious about publicly appearing to deal in Russian oil fearing third-country US sanctions.

The report follows news that the EU is looking to implement a complete ban on trade in all Russian oil within six months.

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 EU needs veto overhaul – Italian PM

Mario Draghi has urged the bloc to make key decisions by a qualified majority, rather than seeking unanimous consent.

The Italian PM believes in the wake of Covid-19 and Russia’s military campaign in Ukraine, the EU must learn to work more robustly and effectively.

Europe should move towards "pragmatic federalism," Draghi said.

European Parliament approved draft proposals for a comprehensive EU reform last week, stating that most issues that are now “decided by way of unanimity should be decided by way of a qualified majority.”

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 ❗Onshore capabilities of 'Nord Stream 2' to supply gas to northwest Russia – Gazprom (RIA Novosti)

Now, even if Germany allows the pipeline to be launched, only one line will work - second one will not be available until 2028, Gazprom said.

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 ❗️Missile Attack on Amur Bridge (Reports)

Social media video apparently shows the moment that rail infrastructure was hit in Dnepr by a strike.

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 ⚡️Russia expels seven Danish diplomats in tit-for-tat response - Foreign Ministry 

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 US Training Ukrainian Soldiers at ex-Nazi Base

The US Army is training Ukrainian forces at a former Nazi military base in Germany, having trained 20,000 Ukrainian troops over the past 7 years in anticipation of a conflict with Russia.

Brigadier General Joseph Hilbert told media Wednesday that the US has been using the Grafenwoehr facility, expanded by the Wehrmacht in 1938 and then operated by Americans since 1945, to train Ukrainian forces to use new NATO-supplied weaponry.

Hilbert explained the US has spent around $126mn on the training, adding that “the worst thing the Russian did was give us 8 years to prepare”.

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 ❗France to increase aid to Ukraine from €1.7 billion to €2 billion - Emmanuel Macron 

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 Oil Futures Soar After EU Russian Ban Announcement

Following the EU’s proposal to ban all Russian oil by the end of the year, Brent futures have shot up 4.5% to almost $110 per barrel.

The bloc will attempt to cut out Russian supplies - which accounted for almost 23mn barrels per day last year - in an “orderly fashion” according to EC President Ursula von der Leyen, to allow countries to source alternatives.

Hungary, Slovakia, the Czech Republic and Bulgaria yesterday voiced their opposition to the outright ban, with further negotiations expected to take place Thursday to resolve the dispute.

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