FT News Briefing EU and UK impose new sanctions on Russian oligarchs
Mar 16, 2022
New sanctions by the EU and UK target Russian oligarchs, including Roman Abramovich, amidst the ongoing Ukraine conflict. However, the complexity of effectively enforcing these sanctions raises concerns. Meanwhile, oil prices decline as China’s stock markets falter due to COVID-19 uncertainties. In the legal arena, former Wirecard CEO Marcus Braun faces serious fraud charges that highlight the scandal's lasting effects on Germany's tech landscape. The intertwining of energy demands and geopolitical tensions adds another layer of intrigue.
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Sanctions on Oligarchs
- The EU and UK imposed sanctions on Russian oligarchs, freezing assets and banning travel.
- This coordinated effort aims to pressure Russia over the invasion of Ukraine, but implementation took time due to legal processes.
Energy Carve-Outs in Sanctions
- EU sanctions exclude energy, unlike UK and US bans.
- This exemption is due to EU reliance on Russian gas, particularly in countries like Germany.
Pakistan's Gas Pipeline
- Pakistan will finalize a Russian-built gas pipeline despite international pressure on Moscow.
- Pakistan remains neutral in the Ukraine conflict, prioritizing its energy needs.