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The European Commission and EU member states have resumed discussions on the 12th package of sanctions against Russia, signaling a renewed effort to address the ongoing war in Ukraine. These consultations are set to take place over the weekend, with a focus on ironing out the details of the sanctions
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This week, G7 nations are set to deliberate on four proposals for banning Russian diamonds from the markets of the "Group of Seven" starting from January 1. These proposals range from self-regulation to stringent import measures, revealing the discord that has made reaching a consensus on the ban
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The Estonian government has given its approval to a bill that will be sent to parliament, amending the International Sanctions Act. This amendment outlines the domestic rules for utilizing frozen assets of individuals under sanctions to compensate for the damage caused by Russia's war in Ukraine. According to
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In a collective effort, G7 countries have frozen approximately $280 billion in Russian assets with a commitment to maintain this freeze until Russia compensates Ukraine for the damage inflicted during the war. This resolute stance is articulated in a joint statement [https://www.consilium.europa.eu/en/press/press-releases/2023/
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James Cleverly, the UK's Foreign Secretary, has announced [https://www.gov.uk/government/news/uk-announces-new-sanctions-in-response-to-russian-sham-elections-in-ukraine] fresh sanctions in response to Russia's organized pseudo-elections in the occupied territories of Ukraine. Eleven new individuals will be added to the UK's sanctions list in light of Russia&
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Russian repair workshops and private technicians are experiencing a surge in demand, with service requests rising by 20-100% in the past year, depending on the type of device, CNews reports. This trend can be attributed to several factors, including the impact of the Russian war in Ukraine, as a result
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The Estonian government has voiced its support for a proposal within the European Union's twelfth package of sanctions, suggesting a full trade embargo with Russia. Estonian Minister of Foreign Affairs Margus Tsahkna stated that Tallinn is urging the European Union to impose a comprehensive trade embargo against Russia,
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Ingka, the owner of IKEA, has reached an agreement to sell its Russian portfolio of shopping centers, MEGA, to a subsidiary of Gazprombank, as stated in the company's announcement [https://www.ingkacentres.com/en/newsroom/ingka-centres-sells-its-russian-portfolio-of-shopping-centres/] . Delays in the asset sale were attributed to the scale of the
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Norway has now joined the list of countries implementing a ban on the entry of vehicles with Russian registration. The announcement [https://www.regjeringen.no/en/aktuelt/norway-is-tightening-its-restrictive-measures-against-russia/id2996416/] comes from the country's Ministry of Foreign Affairs. This ban went into effect on October 3. The ban specifically
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Binance has finalized an agreement to divest its entire Russian operations [https://www.binance.com/en/blog/all/binance-fully-exits-russia-with-sale-to-commex-8578760889994024403] to CommEX, marking the culmination of its exit strategy from the Russian market. In a concerted effort to ensure a seamless transition for its existing Russian user base, the off-boarding process
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Microsoft has announced that it will no longer extend licenses for Russian companies beyond October 1, as reported by TelecomDaily with reference to TASS. September 30th marked the final day when Russian corporate clients of Microsoft had the opportunity to renew official licenses for the company's products. While
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The US Department of Justice (DOJ) has intensified its investigation into Credit Suisse Group and UBS Group AG over potential compliance failures that enabled Russian clients to evade sanctions. The investigation, which began with subpoenas to several banks earlier this year, now focuses primarily on Credit Suisse. The DOJ'