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EU fails to agree revised sanctions against Russia - Analysis
Posted By Iain Fraser - Consultant Geopolitical Matters
GEOPoliticalMatters.com
BLOOMBERG has reported that the European Union (EU) has failed to agree on a revised package of sanctions invoked after Russia´s illegal invasion. It is reported that Hungary is so far refusing to back a compromise despite proposals aimed at ensuring its Russian oil supplies. EU ambassadors are scheduled to meet again today (Monday, 30 May 2022) but the lack of a deal means that sanctions could be a prime topic at the union´s two-day meeting.
Countdown to crisis
Russia is currently constructing a new way to pay its Eurobond debt that would sidestep the western financial infrastructure, now mostly off-limits. To facilitate this foreign investors have been told to open accounts at Russian banks in rubles and hard currency - a transpose of the existing methodology enabled and how European nations currently pay for Russian gas, of course enabling Russia to by-pass sanctions. Learn More - Register Free to receive our full analysis direct to your inbox or smart device.
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