EU’s 14th package of Russia sanctions held up by Germany on 14/06/24
BRUSSELS, June 14 (Reuters) - The European Union failed on Friday to agree a 14th package of sanctions against Russia, EU diplomats said, as Germany held out over the extent to which EU companies would be responsible for sanctions violations. Officials from the 27 EU countries have been debating for more than a month on a package including a ban on Russian LNG trans-shipments and a plan to make EU operators responsible for sanctions violations by subsidiaries and partners in third countries. Ambassadors were set to discuss and decide on the issue on Friday evening, but the sanctions topic was withdrawn from the meeting agenda at the last moment. The ambassadors are next due to meet on Wednesday. The late Friday meeting had been meant to reach an agreement before a Ukraine peace conference in Switzerland this weekend. Hungary, Russia's closest EU ally, was previously holding out, but appeared willing to accept the sanctions package, which requires EU unanimity. However, EU diplomats said that Germany expressed reservations about the impact on its industry of the clause on third country subsidiaries and partners. Under the sanctions package, the EU was also set to ban from its ports ships that have contributed to Russia's war effort. This could include the transport of goods generating significant revenue for Russia, goods or technology used in the defence and security sector or shipment of fuels outside the G7 price cap system. (Reporting by Philip Blenkinsop, Jan Strupczewski and Julia Payne; Editing by Andrew Heavens) Is the growing EU-China trade dispute a staged act? on 14/06/24
As widely anticipated, the week was dominated by trade tariffs headlines. Two of the European Commission's top officials - trade chief Valdis Dombrovskis and vice president Margaritis Schinas - coordinated the EU executive's announcement on Wednesday Strategic Agenda: EU leaders look to harness green transition to boost industry on 14/06/24
EU leaders meeting in late June will stress the need for a competitive Europe and highlight how the green transition and a genuine energy union can support that aim, according to a draft document seen by Euractiv. G7 leaders to jointly monitor, counteract China’s industrial overcapacity, Russia support on 14/06/24
G7 leaders discussed on Friday (14 June) how to protect their domestic industries from Chinese overcapacity without causing a trade war with Beijing and keep in check China's alleged support for Russia's military expansion. Reform of EU cohesion policy inevitable, German official says on 14/06/24
Before talking about a new round of joint EU debt, the EU would need to reform its current spending priorities, including regional development and agricultural support, Ole Funke, coordinator for EU fiscal policy at the German Chancellery said. EU tariffs on China too low to protect Europe’s car industry – former top US trade official on 14/06/24
"It just doesn't add up to enough to really counteract all of those forces that you see... I think what you could anticipate is those vehicles could continue coming in and being sold at essentially the same price they are today." Europe’s new tariffs against China: If you want peace, prepare for trade war on 14/06/24
The European Commission announced new trade tariffs on Chinese electric vehicles, under pressure from the United States and part of the union, in the hope of opening negotiations with China. EU rebuffs Chinese businesses’ allegation of misconduct during anti-subsidy probe on 14/06/24
"This is a targeted, fact-based investigation, and we assessed all information provided by the interested parties in an objective manner," the Commission's trade spokesperson told Euractiv. China says it ‘reserves the right’ to file WTO suit over EU car tariffs on 13/06/24
China said on Thursday (13 June) it "reserves the right" to file a suit with the World Trade Organization over planned new EU tariffs on imports of its electric vehicles. G7 leaders strike ‘provisional’ deal on $50 billion Russian frozen assets loan to Ukraine on 13/06/24
G7 negotiators agreed on Thursday (13 June) on a loan plan based on the size of their economies to provide Ukraine with about $50 billion in aid, expected to start flowing by the end of the year, according to people familiar with the matter.
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