{"id":282985,"date":"2024-12-23T12:00:19","date_gmt":"2024-12-23T12:00:19","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=282985"},"modified":"2024-12-19T05:48:42","modified_gmt":"2024-12-19T05:48:42","slug":"brussels-further-damages-european-industry-by-approving-15th-sanctions-package-on-russia","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2024\/12\/brussels-further-damages-european-industry-by-approving-15th-sanctions-package-on-russia\/","title":{"rendered":"Brussels Further Damages European Industry by Approving 15th Sanctions Package on Russia"},"content":{"rendered":"
\"\"<\/a>

From BRICS Portal<\/p><\/div>\n

17 Dec 2024 <\/em>– The Council of the European Union announced the approval of the 15th round of sanctions against Russia yesterday. Clearly, by imposing a new package of sanctions, the EU is willing to continue destroying its own industries by persisting on a policy of economic warfare despite the boomerang effects.<\/p>\n

\u201cThis package of sanctions is part of our response to weaken Russia\u2019s war machine and those who are enabling this war, also including Chinese companies. It shows the unity of EU member states in our continued support to Ukraine,\u201d said Kaja Kallas, the EU\u2019s High Representative for Foreign Affairs and Security Policy.<\/p>\n

\u201cOur immediate priority is to put Ukraine in the strongest possible position. We will stand by the Ukrainian people on all fronts: humanitarian, economic, political, diplomatic and military. There can be no doubt that Ukraine will win,\u201d she added.<\/p>\n

The new package includes, in particular, a list of personal sanctions\u00a0against 54 individuals and 30 organizations\u00a0that, according to the Council\u2019s announcement, are \u201cresponsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.\u201d<\/p>\n

The restrictions are intended to \u201caddress the circumvention of EU sanctions through targeting\u201d Russia\u2019s so-called \u201cshadow fleet\u201d and weaken the country\u2019s military industry.<\/p>\n

Specifically,\u00a052 third-country vessels\u00a0were sanctioned, which the bloc claims are involved in oil imports from Russia, the delivery of war material to this country, and\/or \u201cthe transport of stolen Ukrainian grain.\u201d<\/p>\n

The new economic restrictions also target Russian defence companies, chemical plants, and civilian airlines. For the first time, sanctions are fully applied to several Chinese entities for cooperating with Russia.<\/p>\n

Since the start of the\u00a0special military operation in Ukraine\u00a0on 24 February 2024, the EU has adopted numerous restrictive measures against Russia. According to the Castellum.AI database, more than 19,500 individual and sectoral sanctions have been triggered against Russia since the start of the military operation.<\/p>\n

However, despite Russia becoming the most sanctioned country in the world, Russian President Vladimir Putin said at the 22nd Congress of the United Russia Party that the Russian economy continues to develop despite the unprecedented Western sanctions.<\/p>\n

\u201cRussia is developing, the economy is growing and this is amid sanctions, literally unprecedented in world history, against the background of gross interference and pressure on the part of the governing elites of some countries,\u201d the president said on December 14, adding that foreign blackmail and attempts to stop Moscow will come to nothing.<\/p>\n

\u201cRussia is confident, it is conscious of its righteousness and its strength, and this is why all objectives set for the short and long term will certainly be met,\u201d Putin said.<\/p>\n

The Russian president\u2019s comments followed the EU\u2019s announcement on December 11 that member states had agreed to\u00a0the 15th EU sanctions package\u00a0against Russia. Now, even as European companies more openly express their interest in returning to the Russian market, the EU acts against the interests of citizens and the business community alike as prices escalate and the cost of living gets out of hand.<\/p>\n

Moscow has repeatedly stated that the country will stand up to the pressure of sanctions that the West began imposing on Russia several years ago and continues to intensify because they lack the courage\u00a0to admit the failure\u00a0of such punitive measures.<\/p>\n

Rising costs, driven partly by a rejection of Russian energy, are causing Europe to lose its global competitive advantage. Although Europe has maintained energy supply security, prices on the European market\u00a0are now much higher than before. Some analysts predict a further rise in energy prices and\u00a0the danger this poses to the European industry.<\/p>\n

It is worth remembering that current gas prices in the European Union are\u00a0almost five times higher\u00a0than those in the United States. As a September report on European competitiveness\u00a0points out<\/a>, EU companies continue to face electricity prices between two and three times higher than the US.<\/p>\n

A separate study by the German Chamber of Commerce and Industry (Deutsche Industrie und Handelskammer or DIHK) finds that high energy costs and a lack of reliable supplies are holding back industrial production, while \u201cthe risk of deindustrialization,\u201d according to Siegfried Russwurm, chief executive of the industrial conglomerate Thyssenkrupp, \u201ccontinues to increase.\u201d<\/p>\n

The energy crisis and the resulting economic recession in Europe\u00a0are partly due to the EU\u2019s refusal to accept cheap and reliable energy supplies from Russia. With these economically suicidal measures, Brussels wanted to force Moscow into capitulation. However, Russia has reoriented its export flows, particularly towards Asia.<\/p>\n

Meanwhile, European buyers have been forced to purchase energy sources from alternative suppliers at higher prices, which obviously affected the competitiveness\u00a0of European producers and hit the continent’s major economies. In effect, the anti-Russia sanctions have boomeranged, but Europe continues to insist on this economically suicidal policy.<\/p>\n

_________________________________________________<\/p>\n

Ahmed Adel is a Cairo-based geopolitics and political economy researcher.<\/em><\/p>\n

Go to Original – infobrics.org<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

17 Dec 2024 – The Council of the European Union approved the new sanctions yesterday. The EU is willing to continue destroying its own industries by persisting on the economic warfare despite the boomerang effects.<\/p>\n","protected":false},"author":4,"featured_media":282987,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51],"tags":[354,1268,654,435,645,278,923],"class_list":["post-282985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-europe","tag-economics","tag-european-union","tag-foreign-policy","tag-free-trade","tag-international-trade","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/282985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=282985"}],"version-history":[{"count":2,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/282985\/revisions"}],"predecessor-version":[{"id":282991,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/282985\/revisions\/282991"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media\/282987"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=282985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=282985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=282985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}