International sanctions

 European Union foreign ministers approved economic sanctions including an arms embargo on Venezuela on Monday, blaming regional elections last month for deepening the South American country's crisis, Reuters reported.

New research by the Austrian Institute of Economic Research (WIFO) suggests the EU's economic sanctions against Russia introduced three years ago have cost European countries billions of euro.

Turkey does not approve sanctions imposed on Russia by the EU over its annexation of Crimea, Foreign Minister Mevlüt Çavuşoğlu has said, urging both sides to resolve their issues through dialogue and political means. 

As the US Congress has approved a new set of sanctions which only need President Donald Trump's signature, German CDU politician Willy Wimmer said that the United States is now clearly ready to abandon any coordination with the European Union.

Germany warned on July 28 that it would not accept any new U.S. sanctions against Russia that targeted European companies at the same time.

Foreign Minister Sigmar Gabriel underlined the importance of applying economic pressure on Russia over its involvement in the Ukrainian conflict.

Photo: kremlin.ru

Russia ordered the United States to cut its diplomatic staff by September 1 and said it was seizing a dacha compound and warehouse used by US diplomats in retaliation for new US sanctions against Moscow.

U.S. lawmakers reached an agreement on Wednesday that paves the way for the U.S. Senate to pass a bill as soon as this week to impose new sanctions on Russia, the chairman of the Senate Foreign Relations Committee said, despite the objections of President Donald Trump's administration, Reuters reports.

Moscow will retaliate against the US for the expected adoption of new anti-Russian sanctions, which are viewed in Russia as senseless and destructive, Russia's deputy foreign minister said.

EU commissioner Jean-Claude Juncker called for an urgent debate on Brussels's response if European companies are affected by US anti-Russian sanctions. The announcement is made by the Financial Times, cited by TASS.

The United States on Thursday hit oil giant ExxonMobil with a $2 million fine for violating Ukraine-related sanctions at a time when Secretary of State Rex Tillerson was still in charge of the company.