Embargoes

The mythical villa in Varkiza, his wife's gallery and luxury cars - Accused of setting up a network of shipping companies and breaking the Venezuelan oil embargo - Twice arrested for the same case and released

In a bid to bolster enforcement of European Union (EU) sanctions against third countries, the European Parliament has approved stringent measures, making the circumvention and violation of these sanctions a criminal offense punishable by a minimum prison sentence of five years.

VINCA - US Ambassador to Serbia Christopher Hill said on Thursday US sanctions imposed on Security Information Agency chief Aleksandar Vulin were not against any of the institutions in Serbia, but against an individual.

Speaking to reporters during a visit to an archaeological site in Vinca, Hill said the US had made this "very clear."

The US lifted its arms embargo on Cyprus in September but the US decision has rankled Turkey which is at odds with NATO ally Greece over the island

The Sanctions Buster

Illustration: BIRN

Slobodan Tesic is reputedly one of the biggest arms traders in the Balkans. He is also one of the most controversial in the region, having been the subject of UN sanctions over violations of embargoes on weapons exports to Liberia for the best part of a decade.

The G-7 countries have imposed a new package of sanctions against Russia. The measures are aimed at the military industry and military supply chains.

World markets are expecting an "insanely difficult" summer due to the partial embargo of the European Union on Russian oil, Business Insider reports, citing analyst Victor Chatenay.

According to him, the only hope for lower resource prices will be "insanely" high interest rates on loans.

They said that India and China are profiting from the sanctions

Today, German Economy Minister Robert Habeck expressed concern that the European Union's unity "begins to fall apart" ahead of tomorrow's summit to discuss the oil embargo against Russia and plans to reduce dependence on Russian energy sources.

The embargo against Russia is considered one of the factors behind high food prices