Contents tagged with Sanctions
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KFC suspends operations in Russia, Pizza Hut to follow suit
KFC’s parent company, Yum! Brands, announced on Tuesday that it is suspending operations of all KFC company-owned restaurants in Russia, and it is finalizing a deal to suspend all Pizza Hut operations in the country. Of the 1100 KFCs in Russia, the company owns 70, and the remaining 1030 franchises will continue operations.
“This action builds on our decision to suspend all investment and restaurant development in Russia and redirect all profits from operations in Russia to humanitarian …
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Russia stocking up on foreign cash amid looming sanctions
Russian banks are importing dozens of tons foreign cash into the country, building up reserves in case of tough Western sanctions with the possible shutdown of SWIFT and foreign correspondent accounts.
In December 2021, the import of foreign cash to Russia amounted to $ 4.97 billion, RIA Novosti reports, citing Russia’s Central Bank statistics.
This is the fourth largest number in Russia’s history. Russian banks imported more dollars and euros only amid panic of March 2020 ($6 billion) and …
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Amid looming Western sanctions, Russia stress-tests its economy
The Russian authorities seem to be seriously considering the possibility of tough Western sanctions, which are being prepared in an even of an invasion of Ukraine.
According to the news outlet The Bell, Russian state-owned companies and large banks carried out a series of exercises to assess the consequences of the sanctions, including the shutdown of SWIFT and foreign software, a ban on the supply of chips and other high-tech equipment to Russia.
Top managers of the main sectors of Russian …
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Kremlin accuses the West of trying to ignite economic crisis in Russia
Western countries are trying to provoke an economic crisis in Russia, which poses a threat to national security, Assistant to the Secretary of the Russian Security Council, Alexander Abelin, TASS reports.
According to him, Russian authorities should focus on developing measures to bock these attempts.
Ensuring economic security through strengthening economic sovereignty and countering threats that could harm Russia's national interests is the country's most important strategic national …
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EU extends sanctions against Russia
The European Union extended the economic sectoral sanctions against Russia for six months.
" The Council decision follows the latest assessment of the state of implementation of the Minsk agreements - initially foreseen to happen by 31 December 2015 - at the European Council of 24-25 June 2021. On that occasion EU leaders called on Russia to fully assume its responsibility in ensuring the full implementation of the Minsk agreements as the key condition for any substantial change in the EU’s …
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Putin claims he does not understand why U.S. imposes sanctions on Russia
Russian President Vladimir Putin does not fully understand why sanctions are being imposed on Russia and does not consider the situation in the Russian economy to be a disaster amid rising unemployment and falling real incomes of Russians.
"We do not impose any sanctions. We only respond somehow, only where it is possible, not to harm ourselves, not to shoot ourselves in the foot. And why the American partners are doing what they are doing so far remains a mystery in many respects," Putin said …
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Russian Foreign Ministry summons U.S. ambassador, warns of serious response to sanctions
On April 15, Russian Deputy Foreign Minister Sergei Ryabkov met with U.S. Ambassador to Moscow John Sullivan, reported the press service of the Russian Foreign Ministry.
The ministry said that the Russian side gave an assessment of the "unacceptable actions of the American side", which allegedly inflicted a heavy blow to the Russian Federation instead of the stated intention to build pragmatic relations.
Ryabkov told Sullivan that "a series of retaliatory measures will follow" in the near …
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Two people convicted in Germany for violating sanctions against Russia
A court in Hamburg has sentenced two German citizens for violating an arms embargo on Russia imposed after the annexation of Crimea in 2014, reported the newspaper Süddeutsche Zeitung.
One of the convicts is a 41-year-old businessman from Augsburg in southwestern Bavaria. He was sentenced to 3 years 9 months in prison, as fine of almost €8 million.
The first of the accused, Alexander S., was detained in February last year. According to investigators, from January 2016 to January 2018, …
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U.S. Ambassador rules out possibility of easing sanctions against Russia
The United States and the European Union do not intend to ease the sanctions imposed on Russia after the annexation of Crimea, said the United States Ambassador to Russia John Sullivan on the TV channel Dozhd.
"We will not ease sanctions, in any case neither the U.S. nor our allies and partners intend to ease the sanctions imposed as a result of these events," Sullivan said.
According to him, German Chancellor Angela Merkel and French President Emmanuel Macron are "deeply committed to finding …
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U.S. prepares sanctions against Russian Defense Ministry, Aviation Industry, Space and Nuclear Agencies
The United States has prepared new sanctions against Russia, which will include more than 30 state-owned companies, agencies and entities.
Russian organizations will be subject to restrictive measures as part of the sanctions package against China, RIA Novosti reports citing a draft document that has not yet been published.
The Russian Defense Ministry, as well as the subsidiaries of the Russian Nuclear Agency, Rosatom, and Russian Space Agency, Roscosmos, may fall under these sanctions.
The …