Norway and the rest of Europe should close their sea ports to Russian ships, Ukrainian President Volodymyr Zelenskiy told the Norwegian parliament.
As Reuters reports, Zelenskiy said that the European Union needs to introduce the ban on Russian vessels to use European ports for the time being while they are blocking Ukraine’s ports.
He also added that Ukraine and Norway had started talks over the supply of 5 billion cubic metres gas for next winter.
You can make a decisive contribution to the energy security of Europe by providing the necessary resources both to the countries of the European Union and to Ukraine
Zelenskiy said, adding that the two countries have already started the dialogue on the supply of about 5 bcm for the next heating season.
In the meantime, Germany announced that it aims to reduce Russian oil imports by half by the middle of 2022, becoming almost independent by the end of 2022, according to the Ministry of Economy and Climate Protection (BMWK).
To achieve independence, Germany has secured options for three floating terminals for liquified natural gas (LNG), which were expected to provide 27 billion cubic meters of LNG by summer 2024.
In addition, Japan joined numerous other countries and imposed sanctions to Russia:
- Restriction on payments to multiple designated Russian individuals (including Vladimir Putin) and Russian banks.
- Restrictions on the export of goods that could strengthen the military capacity of Russia.
- Ban on the export of oil refining equipment, semiconductors, communications equipment, sensors and radar, and other specified items from Japan to Russia.
- Designation of a further 12 Russian corporate entities, including several military-related companies to Japan’s sanctions list.
- Freezing the assets of numerous Russian individuals including 11 members of Russia’s lower House of Parliament, and five family members of the Chairman and largest shareholder of Bank Rossiya.
It should be recalled that the economic sanctions targeting Russia continue to evolve and escalate with many being coordinated among the EU, UK, US, and their allies including sanctions against President Putin and the Central Bank of Russia. Standard Club’s experts Mrs. Ursula O’Donnell and Mrs. Gina Venezia provide a summary of some of the recent actions.
