International sanctions

Bulgarian MP Delyan Peevski has raised serious concerns regarding the apparent circumvention of international sanctions against Russia by individuals closely linked to Russian President Vladimir Putin, calling for urgent investigations by the country's law enforcement agencies.

President Vladimir Putin signed a decree on Nov. 8 offering a way for Russian investors to "swap" their frozen assets abroad with the frozen assets of foreign companies in Russia.

Since the conflict in Ukraine, Western countries have introduced a barrage of sanctions against Moscow, blocking its banks from making international payments and freezing Russian assets abroad.

The Kremlin earned about 1 billion euros from the European derogation allowing Bulgaria to continue importing Russian oil.

Politico reports this, citing a joint investigation. It is the work of the non-governmental organization Global Witness, the Center for the Study of Democracy, the Center for Energy and Clean Air Research and the journalist Victor Jack.

"The European Commission has been notified of the recently taken measure by Bulgaria regarding gas supplies.

BELGRADE - Commenting on a draft European Parliament resolution calling on the EU to impose sanctions against Serbia that would be similar to those against the so-called Kosovo, Elvira Kovac, a member of the Serbian delegation to the Council of Europe Parliamentary Assembly, said on Wednesday the resolution would not be binding.

Greece's trade deficit shrank by 21% in July as imports fell more than exports in the month, the Hellenic Statistical Authority said in a report on the country's merchandise trade.

The value of imports totaled 6.721 billion euros in July, down 17% from July 2022 (excluding oil products, imports fell 3.9%, while excluding oil products and ships, imports fell 4%).

The Russian ruble's wobble in value has exposed a crack in President Vladimir Putin's fortress economy, a vulnerability quickly plastered over by the Kremlin's economic team in a move that allowed the currency to regain its footing, at least for now.

After Russia's withdrawal from the agreement to export grain and fertilizers from Ukrainian and Russian ports on the Black Sea, prices have begun to rise again, Moscow has declared ships sailing to and from Ukraine are enemy vessels (they were already hard to insure), and the Security Council will meet on Friday to discuss the humanitarian fallout from the Russian decision.

The Greek trade deficit shrank 11% in May during a month which showed a 15.4% drop in exports and a 13.6% decline in imports, the Hellenic Statistical Authority said on Friday.

Three Cypriot companies are included in the new list of sanctions imposed by the US. A press release by the US Department of the Treasury says that with over 300 sanctions, the US is targeting Russia's circumvention and evasion of previous sanctions, military-industrial supply chains, and future energy revenues.