Non-tariff barriers to trade

The mythical villa in Varkiza, his wife's gallery and luxury cars - Accused of setting up a network of shipping companies and breaking the Venezuelan oil embargo - Twice arrested for the same case and released

The European Commission has unveiled plans for significant tariff hikes on grain imports from Russia and Belarus. The proposed tariffs, described as potentially functioning as de facto sanctions, aim to address growing concerns over the use of food exports as a geopolitical tool by Moscow while safeguarding EU markets and farmers.

In a bid to bolster enforcement of European Union (EU) sanctions against third countries, the European Parliament has approved stringent measures, making the circumvention and violation of these sanctions a criminal offense punishable by a minimum prison sentence of five years.

Washington says there is no new policy to announce regarding a recent arms embargo lift on the Republic of Cyprus, following news that US sanctions have been imposed on several dealers including individuals who are based on the island.

The Sanctions Buster

Illustration: BIRN

Slobodan Tesic is reputedly one of the biggest arms traders in the Balkans. He is also one of the most controversial in the region, having been the subject of UN sanctions over violations of embargoes on weapons exports to Liberia for the best part of a decade.

The complete ban on the purchase of Russian coal comes into force today. The measure was approved as part of the fourth package of sanctions adopted in April against Russia over the war in Ukraine.

Another ban on imports from Russia is due to be implemented later this year: a partial oil embargo.

World markets are expecting an "insanely difficult" summer due to the partial embargo of the European Union on Russian oil, Business Insider reports, citing analyst Victor Chatenay.

According to him, the only hope for lower resource prices will be "insanely" high interest rates on loans.

Today, German Economy Minister Robert Habeck expressed concern that the European Union's unity "begins to fall apart" ahead of tomorrow's summit to discuss the oil embargo against Russia and plans to reduce dependence on Russian energy sources.

The embargo against Russia is considered one of the factors behind high food prices

Greece might seek exclusion of its shipping companies from the embargo