• About Us
  • Terms & Conditions
  • Contact Us
Saturday, April 1, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    2023: Labour Party eyes N80,000-N100,000 minimum wage

    Labour Party dismisses suspension of National Chairman Abure

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump indicted over hush money payment, what it means

    FG advises Nigerians to be guided by UAE new visa regime

    FG launches passport production facility in Osun

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    Turkey becomes last NATO nation to ratify Finland membership

    Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

    2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

    Why PDP didn’t follow Wike’s option — Atiku’s spokesperson

    PDP reverses suspension of Fayose, Anyim, others

    Election postponement to affect start of 2023 Census – NPC

    2023 census: No question will be asked on religion – NPC

    Actor Yul Edochie loses first son

    Actor Yul Edochie loses first son

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA announces N0.90 final dividend for 2022 financial year

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank to pay dividend of 0.11 US cents for 2022 Financial Year

    MTN Nigeria to pay over N200 billion final dividend for 2022

    CAP Plc announces N1.55 final dividend for 2022 FY

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    AGM suspension: Oando’s shareholder wins court case against SEC

    JUST IN: OANDO Plc to delist from Nigerian Exchange, Johannesburg Stock Exchange

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Increased By 90bps, as Dangote Cement gains 5.07%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 1.16% as Dangote Cement falls 4.17%

    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA reports N170.28 billion profit for 2022 financial year

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc reports N223.91 billion profit after tax for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc announces N91 billion final dividend for 2022 FY

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

    2023: Labour Party eyes N80,000-N100,000 minimum wage

    Labour Party dismisses suspension of National Chairman Abure

    Trump congratulates Nigeria for Banning Twitter, says more countries should do same

    Donald Trump indicted over hush money payment, what it means

    FG advises Nigerians to be guided by UAE new visa regime

    FG launches passport production facility in Osun

    NGX RegCo approves Livingtrust Mortgage Bank’s free float compliance plan

    Turkey becomes last NATO nation to ratify Finland membership

    Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

    2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

    Why PDP didn’t follow Wike’s option — Atiku’s spokesperson

    PDP reverses suspension of Fayose, Anyim, others

    Election postponement to affect start of 2023 Census – NPC

    2023 census: No question will be asked on religion – NPC

    Actor Yul Edochie loses first son

    Actor Yul Edochie loses first son

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    CBN raises interest rate for the 6th consecutive time

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA announces N0.90 final dividend for 2022 financial year

    CEO of Ecobank Group to retire, new CEO announced

    Ecobank to pay dividend of 0.11 US cents for 2022 Financial Year

    MTN Nigeria to pay over N200 billion final dividend for 2022

    CAP Plc announces N1.55 final dividend for 2022 FY

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    AGM suspension: Oando’s shareholder wins court case against SEC

    JUST IN: OANDO Plc to delist from Nigerian Exchange, Johannesburg Stock Exchange

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Increased By 90bps, as Dangote Cement gains 5.07%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 1.16% as Dangote Cement falls 4.17%

    List of Stockbrokers in Nigeria

    List of Stockbrokers in Nigeria

    MTN Nigeria to pay over N200 billion final dividend for 2022

    Custodian Investments Plc announces 55 kobo final dividend for 2022 FY

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    UBA suffers maximum possible loss on NSE as investors dump the stocks

    UBA reports N170.28 billion profit for 2022 financial year

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc reports N223.91 billion profit after tax for 2022 FY

    FY 2020: Zenith Bank Plc rakes in N230.6 billion profit after tax

    Zenith Bank Plc announces N91 billion final dividend for 2022 FY

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    Board of Fidson Healthcare Plc approve 55 kobo Dividend

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    N1.17 dividend approved by Beta Glass Plc Board of Directors for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    May & Baker Nigeria Plc announces 30 kobo dividend for 2022 FY

    FG agrees to pay $496 million as settlement claim for Ajaokuta Steel, others

    Seplat Energy Plc takes legal action against Orjiako

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    Credit Suisse shares plunged on Monday after acquisition by rival UBS

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 1

    Building a Successful Business Organization: Lessons from the Bible

    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home Business

EU eases sanctions on Russian Oil for the sake of “food and energy security”

Saturday, 23 July 2022, 3:16 pm
in Business, Companies, News, World
0
Brent crude oil price rise above $70 on OPEC projections
Share Share Share Share Send as Email

The European Union will allow transactions needed for Russian stated owned companies; Rosneft and Gazprom to sell oil to third countries.

According to a statement released by the EU Council on Thursday, Rosneft and Gazprom may now be able to ship oil to third countries.

Also read: Energy gaint Uniper gets $15bn bailout from the German Government

According to the statement seen by Investogist, the council said that in response to Russia’s continuing war of aggression against Ukraine, it adopted new measures intended to tighten existing economic sanctions targeting Russia, perfect their implementation and strengthen their effectiveness.

However, the EU council said it would exempt transactions with certain state-owned entities as regards to transactions for agricultural products and the transport of oil to third countries, all in a bid to avoid potential negative consequences for food and energy security.

With a view to avoid any potential negative consequences for food and energy security around the world, the EU decided to extend the exemption from the prohibition to engage in transactions with certain state-owned entities as regards transactions for agricultural products and the transport of oil to third countries.

More broadly, the EU is committed to avoiding all measures which might lead to food insecurity around the globe. None of the measures adopted today or earlier in view of Russia’s actions destabilising the situation in Ukraine target in any way the trade in agricultural and food products, including wheat and fertilisers, between third countries and Russia.

Similarly, EU measures do not prevent third countries and their nationals operating outside of the EU from purchasing pharmaceutical or medical products from Russia.

This provision means that Russian state-owned companies, including Rosneft, Gazprom Neft, and Sovcomflot, are now allowed to conclude deals with Europeans on the transport of oil to third countries.

In March, the EU introduced a ban on transactions between European companies and Russian corporations, including energy majors Rosneft, Transneft, Gazprom Neft, and Russia’s largest shipping company Sovcomflot, among others. Transactions involving the import or transportation of natural gas, oil, petroleum products and a number of metals were initially allowed as exceptions.

However, as part of the sixth sanctions package introduced last month, the EU imposed a partial embargo of Russian oil, banning sea shipments of oil to the EU and prohibiting European companies from insuring and reinsuring sea shipments of Russian oil and oil products to countries outside the European Union.

As a result, major energy players such as Vitol, Glencore, Trafigura, Shell and Total stopped trading Russian oil for third countries. Now, however, they will be able to resume business with Russia. The legal details of the new provision will be published in the Official Journal of the EU.

The EU however introduced a new prohibition to purchase, import, or transfer, directly or indirectly, gold, if it originates in Russia and it has been exported from Russia into the EU or to any third country after. This prohibition also covers jewellery.

The package also extends the list of controlled items, which may contribute to Russia’s military and technological enhancement or the development of its defence and security sector, thereby reinforcing export controls on dual use and advanced technology.

Furthermore, the new measures extend the existing port access ban to locks to avoid the circumvention of sanctions and expand the scope of the prohibition on accepting deposits to include those from legal persons, entities or bodies established in third countries and majority-owned by Russian nationals or natural persons residing in Russia. The acceptance of deposits for non-prohibited cross-border trade will be subject to a prior authorisation by the national competent authorities.

In addition to economic sanctions, the Council decided to list additional individuals and entities and strengthen reporting requirements, putting the burden of declaring assets onto sanctioned people, in order to facilitate the freezing of their assets in the EU.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

Related Posts:

  • USA eases sanctions on Russian agricultural products including Fertilizers
    USA eases sanctions on Russian agricultural products…
  • G7 Summit in Brussels: What they said about Sanctions, Russia, Putin, Ukraine, Food, Energy amongst others
    G7 Summit in Brussels: What they said about Sanctions,…
  • Russian Rubber holds up new EU anti-Russian sanctions
    Russian Rubber holds up new EU anti-Russian sanctions
  • EU's new  sanctions rain down on Russia, hitting its Energy sector
    EU's new sanctions rain down on Russia, hitting its Energy…
Previous Post

Local bourse continued it decline… As market breadth stood at 0.5x

Next Post

BREAKING: WHO declares Monkeypox global health emergency

Next Post
BREAKING: WHO declares Monkeypox global health emergency

BREAKING: WHO declares Monkeypox global health emergency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Custodian Investments Plc announces 10 kobo interim dividend for H1 2022

List of Dividends announced in 2022, qualification and payment dates

UBA suffers maximum possible loss on NSE as investors dump the stocks

UBA announces N0.90 final dividend for 2022 financial year

Peter Obi is an emerging force that can’t be wished away by anyone – Okezie Ikpeazu

2023 Election: I predicted the Peter Obi effect – Okezie Ikpeazu

UBA suffers maximum possible loss on NSE as investors dump the stocks

UBA reports N170.28 billion profit for 2022 financial year

Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

Spain needs over 60,000 additional workers in Hospitality Industry, where to find the jobs

2023: Labour Party eyes N80,000-N100,000 minimum wage

Labour Party dismisses suspension of National Chairman Abure

UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

UAC of Nigeria Plc declares 22 kobo Dividend for 2022 FY

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist