KEY POINTS



<ul class="wp-block-list"><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>



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.



<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.



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>



“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.



“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.”



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



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>.



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.

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

HARARE (Reuters) &#8211; Zimbabwe and the European Union began political talks on Wednesday aimed at turning the page on hostile relations during Robert Mugabe’s rule, a step that could enable a resumption of direct financial aid for the ailing economy.



During Mugabe’s four-decade rule until 2017, he would routinely blame European “colonialists” for Zimbabwe’s problems, and snarled at EU and U.S. sanctions for rights and vote abuses.



The EU has only kept sanctions on Mugabe, his wife and the state arms manufacturer, but is yet to resume direct funding to the new government of President Emmerson Mnangagwa, preferring to channel money through local charities and U.N. agencies.



With the economy afflicted by dollar shortages, fuel queues, power-cuts, and soaring prices, Mnangagwa has said restoring ties with the West and multilateral lenders like International Monetary Fund is one of his major priorities.



At the start of the open-ended talks between diplomats and officials in Harare, EU Zimbabwe delegation head Timo Olkkonen said they would discuss issues including economic development, trade, investment, rights, rule of law and good governance.



The government has already signed up to an IMF monitoring programme where it has committed to political and economic reforms in a bid to set a track record of fiscal discipline that could earn it debt forgiveness and future financing.



At a separate event in a Harare hotel, Mnangagwa signed a new bill creating a tripartite negotiating forum intended to bring labour, business and government together to shape policy.



The 76-year-old leader is under pressure to deliver on pre-election promises and wants to avert a repeat of violent protests over a steep fuel price hike in January.



Later on Wednesday, the government is expected to start wage negotiations with public sector unions, who say a pay rise of up to 29% they received in April had already been eroded by inflation, now at a 10-year high of 75.86 %.



Mnangagwa has promised to break with his predecessor and says his “open for business” mantra will woo foreign investors. But critics say under his rule the economy shows no signs of improving while security forces have continued to crush dissent.



Reporting by MacDonald Dzirutwe; Editing by Andrew Cawthorne

What you need to know about Zimbabwe and EU’s political talks to ease tensions created in Mugabe-era

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CNBC Africa’s Karabo Letlhatlha speaks to Zimbabwean billionaire Strive Masiyiwa, Founder &#038; Chairman of global telecommunications group Econet about the state of governance in Africa, Zimbabwe&#8217;s political and economic problems and why he won’t stop investing despite political troubles.

Strive Masiyiwa optimistic about Mnangagwa, calls for removal of sanctions

CAPE TOWN (Reuters) &#8211; President Cyril Ramaphosa said on Tuesday there was no reason to believe that any country would impose sanctions on South Africa over the government’s plans to redistribute land to address racial disparities in ownership.
Ramaphosa announced in late July that the ruling African National Congress (ANC) plans to change the constitution to allow the expropriation of land without compensation, as whites still own the majority of South Africa’s land.
U.S. President Donald Trump waded into South Africa’s high-octane land debate last month when he asked his Secretary of State Mike Pompeo to study South African “land and farm seizures” in a late-night tweet.
Some analysts have since speculated that Trump’s government could impose economic sanctions on South Africa to express its disapproval with the ANC’s land reform agenda.
“We have no reason to believe that any country would impose sanctions on South Africa for any actions that we take, actions that are constitutional, that are lawful and consistent with international law,” Ramaphosa said in parliament while answering a question from an opposition party on his government’s land reform plans.
Ramaphosa added that the government was ready to discuss its land reform plans with any country. He repeated that land reform would follow a parliamentary process and that the government would not tolerate “land grabs”.
Reporting by Wendell Roelf; Writing by Alexander Winning; Editing by James Macharia

Will South Africa face sanctions over land reform? Here’s what Ramaphosa thinks…

Michelle Nichols | UNITED NATIONS
Zimbabwean President Robert Mugabe used an address on Monday at the opening of the first United Nations conference on oceans to call for an end to sanctions on his landlocked country so it can implement a series of global goals on sustainable development.
The 93-year-old was among about nine leaders to attend the New York conference, which is due on Friday to adopt a &#8220;Call to Action&#8221; committing to &#8220;conserve and sustainably use our oceans, seas and marine resources.&#8221;
<blockquote>&#8220;The effects of climate change are not discriminatory, so please down with your sanctions,&#8221; Mugabe said. &#8220;My country is committed to implementing the (sustainable development goals) and will do so within the means available to it.&#8221;</blockquote>
In 2015, the 193 U.N. member states adopted an agenda of 17 goals for the world&#8217;s sustainable development up to 2030. One of those goals was to safeguard the ocean, while another calls for &#8220;urgent action to combat climate change and its impacts&#8221;.
<blockquote>&#8220;Allow my county to act freely within the context of our agreements and its sovereignty,&#8221; Mugabe said.</blockquote>
Western countries imposed sanctions in 2001 on Mugabe&#8217;s government over allegations of vote-rigging and human rights abuses, which he rejects.
Mugabe&#8217;s travel to international conferences such as the ocean summit has raised eyebrows in cash-strapped Zimbabwe. Last year Mugabe made at least 20 trips abroad, spending $36 million in the first 10 months, according to government figures.
Bolivian President Evo Morales used his address on Monday to denounce neighboring Chile for failing to provide his landlocked country with unfettered commercial access to its ports.
Bolivia lost access to the Pacific following an 1880s war. Under a 1904 treaty, Chile has to allow Bolivia to cross its territory for trade access.
&#8220;The broad and free commercial transit that Chile is obliged to provide us suffers from constant interruptions through strikes, stoppages for various reasons, but above all because our access has become a profitable business for private companies that benefit from the port monopolies,&#8221; Morales said.
The U.N. ocean conference will also promote partnerships, such as between governments and businesses, to address issues such as marine pollution, ocean acidification, and marine research. It will also compile voluntary commitments.
&#8220;Unless we overcome the territorial and resource interests that have blocked progress for far too long, the state of our oceans will continue to deteriorate,&#8221; U.N. Secretary-General Antonio Guterres said. &#8220;We must put aside short-term national gain, to prevent long-term global catastrophe.&#8221;
(Reporting by Michelle Nichols; Editing by Tom Brown)

Landlocked Zimbabwe calls for end of sanctions at U.N. oceans summit

Standard Chartered will consider whether it can restart correspondent banking relationships with Sudan following the proposed lifting of U.S. sanctions, a senior executive said.
Anurag Bajaj, who oversees the British-based lender&#8217;s correspondent banking business, where it provides services for other banks, said the bank was reviewing the implications of last month&#8217;s move by the outgoing Obama administration to unfreeze assets and remove financial sanctions in return for its help in fighting Islamic State and other groups.
The sanctions relief will come in six months if Sudan takes further steps to improve its human rights record and makes progress resolving its military conflicts.
&#8220;How significant the unravelling of the sanctions are [in Sudan] we will look at,&#8221; Bajaj, Standard Chartered&#8217;s global head of banks, transaction banking, told Reuters.
&#8220;Our sanctions team will review it before taking a decision,&#8221; he added.
For Sudan, the resumption of correspondent banking relationships will be vital to turning around its economy, which has struggled since South Sudan seceded in 2011, taking with it three-quarters of the country&#8217;s oil output.
But banks are likely to be cautious given the tougher immigration rules imposed by President Donald Trump on citizens from seven countries, including Sudan, that could affect the country&#8217;s relations with the United States.
Standard Chartered admitted in 2012 to breaking U.S. sanctions against Sudan, as well as Iran and Libya.
Bajaj said Iran, which the Trump administration earlier this month imposed sanctions on following a ballistic missile test, remained off-limits for the bank as it was &#8220;sanctioned.&#8221;
However, he added that while the bank had cut ties with some clients in other countries to guard against the risk of falling foul of rules on sanctions or money laundering, it was still only a &#8220;minimal&#8221; number in global terms.
&#8220;There&#8217;s always the odd-one, rare client that will not match our risk appetite but there are also clients that we are growing our business with,&#8221; he said.
 
(Editing by Greg Mahlich)﻿

Standard Chartered to review Sudan links after U.S. sanctions move

Gabon&#8217;s opposition leader Jean Ping called on Thursday for national talks to form a &#8220;new republic&#8221; and urged foreign powers to impose sanctions on allies of President Ali Bongo, sworn in this week after a disputed election in the oil-producing nation.
Ping remained intransigent during his speech in the capital Libreville, saying he refused to recognise Bongo&#8217;s presidency. But his appeal for dialogue &#8212; albeit on his own terms &#8212; could help usher in a return to normal after post-election violence last month killed at least six people.
Ping ridiculed Bongo&#8217;s earlier appeals for talks, saying that the president, who came to power in a contentious 2009 election following his father Omar Bongo&#8217;s death after 42 years in power, had won fraudulently.
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Instead, he said he would organise his own talks, though he provided few details.
&#8220;This inclusive national dialogue will be&#8230;the occasion to put in place the foundations of a new republic,&#8221; he said.
Ping also called for sanctions against the authors of what he called &#8220;a military-electoral coup d&#8217;etat&#8221; and urged the prosecutor of the International Criminal Court to come to Gabon to investigate violence after Bongo was declared the winner.
Court prosecutor Fatou Bensouda said in a statement on Thursday that she had begun a preliminary examination of the situation in the country at the request of the government. She will decide later whether to open a formal investigation. [nA5N197016]
Bongo&#8217;s victory in last month&#8217;s poll by less than 6,000 votes drew accusations of fraud from Ping. France called for a recount and the European Union said it found anomalies in Bongo&#8217;s stronghold province of Haut-Ogooue, where he won 95 percent of the vote on a 99.9 percent turnout.
But fears of resurgent violence after the Constitutional Court upheld Bongo&#8217;s victory last week failed to materialise and Bongo was sworn in at a subdued ceremony on Tuesday. [nL8N1C34KC]
He has promised to name an inclusive new government in the coming days and to address some of the issues that have fuelled anger in the country of 1.8 million, like youth unemployment and over-reliance on dwindling oil revenues.
However, the conduct of the poll may hurt his international reputation as a reformer, analysts said. Just a handful of African leaders attended his inauguration.﻿

sanctions

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

What you need to know about Zimbabwe and EU’s political talks to ease tensions created in Mugabe-era

Strive Masiyiwa optimistic about Mnangagwa, calls for removal of sanctions

Will South Africa face sanctions over land reform? Here’s what Ramaphosa thinks…

Landlocked Zimbabwe calls for end of sanctions at U.N. oceans summit

Standard Chartered to review Sudan links after U.S. sanctions move

Gabon leader's legitimacy rejected by opposition

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sanctions

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

What you need to know about Zimbabwe and EU’s political talks to ease tensions created in Mugabe-era

Strive Masiyiwa optimistic about Mnangagwa, calls for removal of sanctions

Will South Africa face sanctions over land reform? Here’s what Ramaphosa thinks…

Landlocked Zimbabwe calls for end of sanctions at U.N. oceans summit

Standard Chartered to review Sudan links after U.S. sanctions move

Gabon leader's legitimacy rejected by opposition

News Tips

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