February 28, 2027: -France’s finance minister said that additional sanctions are being evaluated against Russia for its unjustified fight against Ukraine, as current measures have proven “very efficient.”
“We are in the way of defining these new sanctions. For now, I want to insist that sanctions implemented and stated are very efficient,” Bruno Le Maire said in Bengaluru, India, where nearly 20 financial leaders met.
“When we look at the oil revenues diminishing in Russia, thanks to the sanction. When you look at the frozen assets of more than $58 billion, it can be stated that sanctions against Russia are efficient,” the finance minister stated.
His remarks came as Ukraine marked a single year since the beginning of the whole-scale invasion by Russia in February 2022.
The European Union ramped up its oil sanctions against Russia. The bloc’s prohibition on exports of Russian oil products kicked in on February 5. The embargo came precisely two months after the West took their biggest step yet to prevent Russia from providing the war with fossil fuel export earnings.
The Group of 7 had put a $60 price cap on Russian oil on December 5. It came alongside the EU’s import prohibition on Russian seaborne crude and corresponding bans by other G-7 partners.
Analysts have been skeptical regarding the effectiveness of sanctions imposed on Russian crude oil.
Still, Le Maire has stated that Europe needs to stick “to an obvious, strong implementation of the sanctions.”
“Sanctions will be efficient in the long term, so we must be quite sure. We need to be firm, and we need to be strong. That’s exactly the attitude all European members have chosen,” said Le Maire.
All European cities “stand united meeting this war in Ukraine and facing decisions of sanctions. This is quite good news for Europe,” the finance minister stated.
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
In the fast-paced business world, corporate leaders often find themselves at the crossroads of risk and reward, where bold decisions …
Corporate leaders often navigate turbulent waters where failure is not just a possibility but an inevitable part of the journey …
Corporate leaders play a pivotal role in shaping organizational cultures that embrace diversity and foster inclusivity. How can these …
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
Corporate leaders today stand at the nexus of unprecedented technological evolution, where digital transformation reshapes industries and redefines …
January 15, 2025: South Korea’s ongoing political crisis is causing significant volatility in Asian financial markets..
January 14, 2025: The European Union’s Digital Services Act (DSA) reshapes how B2B platforms operate across Europe.
The leadership landscape is profoundly changing, influenced by technological advancements, shifting workforce expectations, and the need for adaptability in an unpredictable global environment.
The EU Green Deal is accelerating corporate sustainability efforts across industries, prompting significant leadership and strategic priorities shifts.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
