The Council of the European Union announced the imposition of prohibitive tariffs on imported grain products from Russia and Belarus, and the cancellation of tariff quotas, aiming to increase economic pressure and prevent illegal grain products from entering the market.
The EU plans to impose heavy taxes on wheat from Russia and Belarus. This move may lead to a 50% price increase within Europe and also affect the global grain market.
On February 23, 2024, the US Department of the Treasury announced new sanctions against Russia and more than 300 entities worldwide in response to the Russia - Ukraine war and the death of Alexei Navalny. The sanctions cover key sectors such as finance and the military - industrial complex, involving 6 Chinese entities.
The British Foreign Secretary announced new sanctions against Russia, targeting arms manufacturers, oil traders, and diamond companies, aiming to weaken Putins arsenal and war funds.
South Koreas new export control measures came into effect on the 24th of this month, banning the export of 682 items such as medium - and large - sized vehicles to Russia and Belarus in response to international sanctions.
In 2023, the US imposed unprecedented controls and sanctions on Russia, profoundly affecting the economy and posing challenges to global cooperation.
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