EU meets to impose sanctions on Russia
Two days, two big blows for Moscow.
European Union foreign ministers are meeting today to finalize sanctions against Russia, due to Moscow's continued transfer of arms, equipment, and fighters into eastern Ukraine. European nations had been hesitant to apply such sanctions due to their close economic links with Russia, particularly their dependency on Russian natural gas, but it seems like the downing of Flight 17 two weeks ago has underlined just how serious a threat to regional security the ongoing conflict in Ukraine really is.
The sanctions will reportedly target Russia's banking sector and high-technology exports to Russia's energy sector. They will also impose an arms embargo. This comes hot on the heels of yesterday's decision by Permanent Court of Arbitration in The Hague to award $50 billion in damages to former shareholders in Yukos, the Russian energy firm nationalized by the Russian state in 2005.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Putin, however, claims to not really care. According to the Financial Times, an unnamed source close to him claimed these matters were insignificant in the context of the larger impasse over Ukraine. He menacingly added: "There is a war coming in Europe. Do you really think this matters?"
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.
-
Immunotherapy and hay fever
The Explainer Research shows that the treatment could provide significant relief from symptoms for many hay fever sufferers
By Richard Windsor, The Week UK Published
-
The week's best photos
In Pictures A flooded island, a ballistic missile, and more
By Anahi Valenzuela, The Week US Published
-
Who actually needs life insurance?
The Explainer If you have kids or are worried about passing on debt, the added security may be worth it
By Becca Stanek, The Week US Published
-
Puffed rice and yoga: inside the collapsed tunnel where Indian workers await rescue
Speed Read Workers trapped in collapsed tunnel are suffering from dysentery and anxiety over their rescue
By Sorcha Bradley, The Week UK Published
-
More than 2,000 dead following massive earthquake in Morocco
Speed Read
By Justin Klawans Published
-
Mexico's next president will almost certainly be its 1st female president
Speed Read
By Peter Weber Published
-
North Korea's Kim to visit Putin in eastern Russia to discuss arms sales for Ukraine war, U.S. says
Speed Read
By Peter Weber Published
-
Gabon's military leader sworn in following coup in latest African uprising
Speed Read
By Justin Klawans Published
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstances
Speed Read
By Peter Weber Published
-
Western mountain climbers allegedly left Pakistani porter to die on K2
Speed Read
By Justin Klawans Published
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governor
Speed Read
By Peter Weber Published