
<p>KEY POINTS</p>



<ul><li>Imposing measures that could reduce, or fully cut, Russian energy supplies to the EU have been a complicated task for the bloc.</li><li>This is because the region is reliant on Russia for several sources of energy, including oil.</li><li>In 2020, Russian oil imports accounted for about 25% of the bloc’s crude purchases, according to the region’s statistics office.</li></ul>



<p>The European Commission, the executive arm of the EU, on Wednesday put forward new sanctions against the Kremlin which will include a&nbsp;six-month&nbsp;phase out of Russian crude imports.</p>



<p><a href="https://www.cnbc.com/2022/05/04/russia-ukraine-live-updateshtml.html">Russia’s unprovoked invasion of Ukraine</a>, and evidence of war crimes, has pushed the EU to take bolder steps on energy sanctions. But imposing measures that could reduce, or fully cut, Russian energy supplies to the EU have been a complicated task for the bloc.</p>



<p>This is because the region is reliant on Russia for several sources of energy, including oil. In 2020, Russian oil imports accounted for about 25% of the bloc’s crude purchases, according to the&nbsp;<a href="https://ec.europa.eu/eurostat/statistics-explained/index.php?title=File:Extra_EU_imports_of_petroleum_oil_from_main_trading_partners,_2020_and_first_semester_2021.png" target="_blank" rel="noreferrer noopener">region’s statistics office.</a></p>



<p>“Let us be clear: it will not be easy,” European Commission President Ursula von der Leyen said during a speech at the European Parliament Wednesday.</p>



<p>“Some member states are strongly dependent on Russian oil. But we simply have to work on it. We now propose a ban on Russian oil. This will be a complete import ban on all Russian oil, seaborne and pipeline, crude and refined.”</p>



<h2 class="wp-block-heading" id="h-exemptions"><a></a>Exemptions</h2>



<p>The ban had been a highly controversial topic within the EU, but the move gained more momentum after Germany backed the idea. Two EU nations —&nbsp;<a href="https://www.cnbc.com/2022/05/03/russia-sanctions-eu-nears-oil-embargo-hungary-and-slovakia-want-exemptions.html">Slovakia and Hungary which are both highly dependent on Russian energy — have been demanding exemptions</a>.</p>



<p>Von der Leyen chose not to give any details on exemptions during her speech, but three EU officials, who did not want to be named due to the sensitive nature of the issue, confirmed to CNBC that the commission’s proposal includes this flexibility — giving Hungary and Slovakia a longer period of time to phase out Russian oil.</p>


KYOIC7PHVNMEBMT2WPSIUAHK6U

EU proposes gradual ban on Russian oil in sixth round of sanctions against Moscow

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<p>The European Union and the Rwanda Development Board have entered a deal worth R3.6 billion Rwandan francs in order to boost vaccine manufacturing capacity in that country. Clare Akamanzi, CEO of the Rwanda Development Board joins CNBC Africa for more.</p>


EU, RDB partner to boost vaccine manufacturing capacity in Rwanda

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<p>The EU-Seychelles fisheries agreement, first concluded in 1984, has recently been updated with new fishing opportunities and financial contributions from the EU. Another critical addition to the agreement is the sustainability aspect! CNBC Africa&#8217;s Ridhima Shukla, spoke to the Minister of Fisheries in Seychelles, Jean-Francois Ferrari, for more.</p>


New sustainable fishing agreement to boost Seychelles blue economy

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<p>As South Africa is working on building back better after being battered by COVID-19, government ministers are on a journey to rebuild their departments. The aim is to bring back people’s trust of government and the public sector. One of the channels that the government is using to achieve this goal, is the National School of Government. CNBC Africa’s Godfrey Mutizwa spoke with Senzo Mchunu, Minister of Public Service &#038; Administration.</p>


Here’s what EU investors think of SA’s empowerment policies

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<p>With the operationalization of the African Continental Free Trade Area pushed to December of this year due to the COVID-19 pandemic. There have been calls to revise the current trade agreements between the continent and major trading partners such as the European Union; former Secretary of UNECA, Carlos Lopes joins CNBC Africa for more.</p>


Carlos Lopes: Why Africa should revise its trade agreements with the EU


<p>BRUSSELS (Reuters) &#8211; Aspen (<a href="https://www.reuters.com/companies/APNJ.J">APNJ.J</a>) has offered to cut prices by an average of 73% for six off-patent cancer drugs, EU antitrust regulators said on Tuesday, a move that could help the South African pharmaceutical company avoid a potentially hefty fine.</p>



<p>The European Commission opened an investigation into Aspen in 2017 following concerns it may have charged excessive prices for drugs critical in treating patients suffering from certain types of life-threatening cancer, such as leukaemia and multiple myeloma.</p>



<p>Aspen’s price cuts will cover all of Europe except for Italy, which imposed a five million euro ($5.68 million) fine on the company in 2016 for price hikes of up to 1,500% for some drugs.</p>



<p>The European Commission, the EU executive, said it would seek feedback from interested parties before deciding whether to accept the company’s offer.</p>



<p>“The proposed commitments aim at bringing to an end Aspen’s suspected excessive pricing conduct with respect to its six off-patent cancer medicines, which the Commission suspects to constitute an abuse of a dominant position,” the Commission said in a statement.</p>



<p>It said Aspen’s proposal would lead to an immediate price cut in its net prices to below 2012 levels for most of the drugs, guarantee supply and involve a 10-year price ceiling.</p>



<p>The price cuts would apply retroactively from Oct. 1, 2019, when Aspen first submitted its concessions to regulators.</p>



<p>Under its antitrust settlement procedures, accepting the offer would mean no fines and no acknowledgement of wrongdoing. Sanctions can amount to 10% of a company’s global turnover.</p>


Stephen Saad on the impact of COVID-19 on Aspen

Aspen offers to cut cancer drug prices, may avoid EU antitrust fine

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<p>The European Union has released an additional 15 million euros to the fight against desert locusts in East Africa ahead of a potential new wave of swarms in the region. This comes after the EU granted 11 million euros back in February of this year for the same. The Food and Agriculture Organisation is one of the bodies set to receive the funds for this and CNBC Africa spoke to Cyril Ferrand, Senior Technical Officer and Team Leader for Eastern Africa Resilience for more.</p>


EU injects additional $17mn to tackle desert locusts ravaging East Africa

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<p>In Uganda, according to president Yoweri Museveni, the country will go ahead with its plan to re-open the country despite recording more than 150 Covid-19 cases in three days. Moreover, European Union gives Uganda about $198 million to fund coronavirus response. CNBC Africa spoke to Qatahar Raymond Mujuni, a journalist for more.</p>


Uganda moves to phased reopening amid rising of COVID-19 cases

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This week saw Commonwealth Day and the very first European Union, Uganda Business Forum happen in Kampala. Analyst and Chief Strategist at Impact Communication Strategies, Ken Agutamba joins CNBC Africa for more.</p>


Inaugural EU-Uganda Business Forum to strengthen bilateral ties

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Britain’s divorce from the European Union takes place today after an emotional debate that took place on Wednesday and a tumultuous three years of voting and a rotating door of prime ministers. Today marks the symbolic exit of Britain from the European Union as the official regulatory exit will take another 11 months to officially be parted from the EU. Deon Gouws, Chief Investment Officer at Credo Wealth joins CNBC Africa for more.</p>


Britain is leaving the EU today but Brexit is far from over

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Nigeria and UK investors signed commercial deals worth 324 million pounds at the just concluded UK-Africa Investment Summit according to a statement by the British Deputy High Commission. Ahead of Britain’s exit from the European Union – British Deputy High Commissioner, Harriet Thompson joins CNBC Africa to discuss ways the UK plans to consolidate its ties with Nigeria.</p>


Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

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<p>Prying eyes are on the UK as Brexit is set to take place on the 31st of January. However before the UK exits from the European Union (EU) they are hosting a UK-Africa Investment Summit to strengthen ties and showcase opportunities in Africa. Her Majesty’s Trade Commissioner for Africa, Emma Wade-Smith joins CNBC Africa for more.</p>


These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

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<p>The Parliament of Rwanda is hosting the 55th Session of the Africa Caribbean Pacific Parliamentary Assembly and 38th Session of the ACP-EU Joint Parliamentary Assembly in Kigali. CNBC Africa&#8217;s Fiona Muthoni spoke to Pekka Haavisto the Minister of Foreign Affairs for Finland on the assembly, what impact Brexit will have on EU arrangements with African countries and the Economic Partnerships Agreement deal between the East African Community (EAC) and the EU that has been pending.</p>


Pekka Haavisto on what attracts  Finnish investors to Rwanda

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<p>U.K Prime Minister, Boris Johnson has re-emphasised his argument that delaying Brexit again rather than leaving today will cost the U.K a billion pounds per month in its budget contributions to the European Union (EU). Meanwhile, EU has granted a Brexit extension of January 31st. Kayode Akindele, Partner at TIA Capital joins CNBC Africa for more.</p>


The cost of Brexit delay on the UK

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<p>Today was meant to mark the day that Britain was due to depart from the European Union. But instead the fate of Britain’s departure will be decided in an election taking place in December.</p>


What’s next for Brexit as Britain heads to the polls?

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<p>Zanu PF South Africa has joined Zimbabweans and the whole of Africa in voicing their disapproval and immediate lifting of the illegal economic sanctions imposed on Zimbabwe by the USA and the EU. Kennedy Mandaza, Zanu PF South Africa Spokesperson joins CNBC Africa for more.</p>


Zanu PF SA demands immediate lifting of economic sanctions on Zimbabwe

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<p>The United Kingdom and the European Union have reached a draft Brexit deal in the eleventh hour of talks ahead of a crucial EU summit today. CNBC unpacks the details of this deal.</p>


EU

EU proposes gradual ban on Russian oil in sixth round of sanctions against Moscow

EU, RDB partner to boost vaccine manufacturing capacity in Rwanda

New sustainable fishing agreement to boost Seychelles blue economy

Here’s what EU investors think of SA’s empowerment policies

Carlos Lopes: Why Africa should revise its trade agreements with the EU

Aspen offers to cut cancer drug prices, may avoid EU antitrust fine

EU injects additional $17mn to tackle desert locusts ravaging East Africa

Uganda moves to phased reopening amid rising of COVID-19 cases

Inaugural EU-Uganda Business Forum to strengthen bilateral ties

Britain is leaving the EU today but Brexit is far from over

Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

Pekka Haavisto on what attracts Finnish investors to Rwanda

The cost of Brexit delay on the UK

What’s next for Brexit as Britain heads to the polls?

Zanu PF SA demands immediate lifting of economic sanctions on Zimbabwe

New Brexit deal agreed

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EU

EU proposes gradual ban on Russian oil in sixth round of sanctions against Moscow

EU, RDB partner to boost vaccine manufacturing capacity in Rwanda

New sustainable fishing agreement to boost Seychelles blue economy

Here’s what EU investors think of SA’s empowerment policies

Carlos Lopes: Why Africa should revise its trade agreements with the EU

Aspen offers to cut cancer drug prices, may avoid EU antitrust fine

EU injects additional $17mn to tackle desert locusts ravaging East Africa

Uganda moves to phased reopening amid rising of COVID-19 cases

Inaugural EU-Uganda Business Forum to strengthen bilateral ties

Britain is leaving the EU today but Brexit is far from over

Commissioner Harriet Thompson on strengthening ties between the UK & Nigeria

These are the key issues set to be discussed at upcoming UK-Africa Investment Summit

Pekka Haavisto on what attracts Finnish investors to Rwanda

The cost of Brexit delay on the UK

What’s next for Brexit as Britain heads to the polls?

Zanu PF SA demands immediate lifting of economic sanctions on Zimbabwe

New Brexit deal agreed

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