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UK Sanctions 7 More Russian Oligarchs Including Roman Abramovich

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UK Sanctions 7 More Russian Oligarchs Including Roman Abramovich
Brian Minkoff-London Pixels, CC BY-SA 4.0 , via Wikimedia Commons

Roman Abramovich, the owner of Chelsea F.C, along with 6 others, has been added by the UK to the sanctions list.

Roman Abramovich, who put his club on sale last week faces sanctions including the halt on the sale of Chelsea F.C. According to a government document, Mr Abramovich has a “close relationship for decades” with the Russian President Vladimir Putin. It said that, “This association has included obtaining a financial benefit or other material benefit from Putin and the government of Russia.” However, these claims are denied by Mr Abramovich.

The UK has announced new sanctions on 7 Russian Oligarchs. The official website of the Government of the UK says that, “A group of Russia-based oligarchs close to Putin have been placed under sanctions” to “isolate Putin and those around him”. Roman Abramovich who is the owner of Chelsea F.C is one of them. The Western Allies have placed sanctions on many Russian Oligarchs amidst Russia’s invasion of Ukraine. This is to further pressurize the Russian government and Vladimir Putin to stop the war in Ukraine.

The Prime Minister of the UK, Boris Johnson tweeted that, “There can be no safe havens for those who have supported Putin’s invasion.” Justifying the sanctions, he further added, “Today’s sanctions are the latest step in our ruthless pursuit of those who enable the killing of civilians, destruction of hospitals and illegal occupation of Ukraine.”

Although the sale of the football club, Chelsea F.C, has been stopped and Mr Abramovich’s assets have been frozen, the ministers assured the club it would not be “unnecessarily harmed”. The UK Secretary of State for DCMS, Nadine Dorries, tweeted, “I know this brings some uncertainty, but the Government will work with the league & clubs to keep football being played while ensuring sanctions hit those intended. Football clubs are cultural assets and the bedrock of our communities. We’re committed to protecting them.”

Despite the “direct impact” on the club and the fans, Nadine Dorries assured Chelsea fans that, “To ensure the club can continue to compete and operate we are issuing a special licence that will allow fixtures to be fulfilled, staff to be paid and existing ticket holders to attend matches while, crucially, depriving Abramovich of benefiting from his ownership of the club.”

The 7 oligarchs sanctioned by the UK government are Roman Abramovich, Oleg Deripaska, Igor Sechin, Andrey Kostin, Alexei Miller, Nikolai Tokarev, and Dmitri Lebedev. Roman Abramovich, according to the government of the UK, is worth more than £9 billion. The 7 oligarchs who have been sanctioned have a “collected net worth of around £15 billion“.

The Government of the UK claims, “These sanctions are the latest step in the UK’s response to Putin’s illegal and unprovoked invasion.” “Moving faster than ever on sanctions” the UK is planning “Economic Crime Bill” to come into force next week. The government believes that this ensures a failure in Putin’s regime.

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

Daily Brief

First Grain Ship Departs Ukraine After Six Months of Russian Blockade

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Odesa pristav
  • The first shipment of grain departed the port of Odesa on Monday after Russia’s blockade of Ukrainian ports for the last six months trapped around 20 million metric tons of wheat and corn.
  • Russia recently made a deal with Ukraine, brokered by the UN and Turkey, allowing grain exports to resume, appeasing fears of a global food supply crisis and rising prices.
  • Ukrainian Foreign Minister Dmytro Kuleba celebrated the shipment, calling it a “day of relief for the world, especially for our friends in the Middle East, Asia, and Africa.”
  • Ukrainian President Volodymyr Zelensky was more hesitant to celebrate the shipment, stating “it is too early to draw any conclusions and make any forecasts” and he wants to “see how the agreement works and whether security will be really guaranteed.”

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Daily Brief

Concerns Rise As US Teeters on the Brink of Recession

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US Stock Market Investing in the United States
  • The US economy declines for the second quarter in a row, causing, what other countries would consider, an economic recession. 
  • The prices for groceries, gas, and other basics are rising at the fastest pace since 1981. The US Central Bank is quickly trying to raise borrowing costs in order to cool the economy and ease the prices on goods, but with the contraction, at the annual rate of 0.9% in the 3 months to July, many are still getting concerned. 
  • President Biden struggles to convince the public that the economy is sound, with the unemployment rate at a low 3.6%. But with inflation in the US hitting 9.1% in June, the fastest price appreciation in 4 months, consumer spending has slowed at an annual rate of 1%. 
  • Many other countries, such as China and the UK, have been hit harder by the surge in energy prices and the War in Ukraine, causing risks from abroad. Other countries are facing much more serious problems and once they’re hit, their problems can spill over and affect the US. 

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Russia-Ukraine

Russia cuts Germany’s Gas Supply causing Prices to Soar 

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01 gazprom ru 5
  • Over the course of the Russian-Ukrainian War, Russia began to slowly cut off Germany’s gas supply through the Nord Stream 1 pipeline. 
  • Before the war, over half of Germany’s gas came from Russia. By the end of June it was reduced to a quarter of its normal captivity, and now it operates at less than a fifth of it. 
  • Russia’s energy firm Gazprom has stated that this need to cut off Germany’s gas supply was due to maintenance work on a turbine that is needed. Critics have disagreed, claiming that Russia is using it’s gas as a ploy to cause terror to Europe. 
  • The cut of Gas supply to Germany and other central European countries has caused gas prices to rise almost 2%, causing the trade to close to a record high similar to that of when Russia invaded Ukraine. 
  • While Germany scrambles to find a solution to this, Poland states it will be fully independent from Russia by the end of the year in order to avoid blackmail from Russia.

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Daily Brief

Russia Limits Gas Supply to Germany

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Black Sea port of Theodosiya panoramio
  • Gazprom, a major Russian energy provider, has stated it will reduce the supply of gas to Germany by half via the Nord Stream 1 pipeline due to repair work. 
  • Germany has said that they see no technical reason for the decrease in gas supply. The European Union continues to accuse Russia of weaponizing energy, with Ukrainian President Volodymyr Zelensky stating, “This is an open gas war that Russia is waging against a united Europe.”
  • Ukraine and Russia signed an agreement to allow the export of grain via the Black Sea after Russia continued to block millions of tonnes from being exported. The next day, Russia struck missiles at the port, some of which hit the infrastructure of the port.
  • The US and Ukraine are optimistic that the agreement will still be implemented, with the US State Department stating, “Despite these attacks, we do understand that the parties are continuing preparations to open Ukraine’s Black Sea ports for food and fertilizer exports…we also continue to expect that the Black Sea agreement will be implemented.”

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Environment

‘Effects of nuclear war globally catastrophic’, new study warns.

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Impact of nuclear war on climate

A nuclear war could lead to a ‘nuclear ice age’, plummeting global temperatures, eradicating a vast proportion of sea life and largely implicating global food security, a new study indicates.

Researchers at Louisiana State University in the US conducted several computer simulations in an Earth System Model to assess the impacts of regional and global nuclear wars on oceans. The study, which examined the potential consequences of

conflicts between the US and Russia, as well as Pakistan and India, revealed that in every scenario, smoke and soot from firestorms would release into the upper atmosphere, obstructing the sun and plunging temperatures at an average of 13F (-11C) within  just one month.

Cheryl Harrison, assistant professor and lead author of the study, said the impact would be all-consuming. 

“It doesn’t matter who is bombing whom. It can be India and Pakistan or NATO and Russia. Once the smoke is released into the upper atmosphere it spreads globally and affects everyone,” she told Bloomberg.

“We can and must, however, do everything we can to avoid nuclear war. The effects are too likely to be globally catastrophic,” she added.

The simulations involved testing the impacts of the US and Russia bombing cities and industrial sites with 4, 400 nuclear weapons weighing 100 kilotons or Pakistan and India detonating 500 of the explosives. 

Alan Robock, Professor in the Department of Environmental Sciences at Rutgers University, said he hoped the study would “encourage” greater action to thwart the threat.

“Nuclear warfare results in dire consequences for everyone. World leaders have used our studies previously as an impetus to end the nuclear arms race in the 1980s, and five years ago to pass a treaty in the United Nations to ban nuclear weapons. We hope that this new study will encourage more nations to ratify the ban treaty.”

The research warned that a US and Russia conflict may lead to permanent increased Artic sea ice extent and volume. 

A UN report also warned of the rapid “global collapse” of civilisations, partially induced by global conflicts, unless urgent steps were taken to address the issue. 

The latest American study follows a warning to British troops by the army’s top general to prepare to “deter Russian aggression with the threat of force”. Shortly after Russia’s invasion of Ukraine, the Russia Foreign Minister, Sergie Lavrov said a Third World War would involve nuclear weapons and destruction would not be limited to Eastern Europe. 

Ocean temperatures could fall, and sea ice expand by six million square miles, affecting trading as major ports, such as Tianjin in China would be occluded.

Reversing the damage would take decades, the study warned. 

A report from the thinktank Stockholm International Peace Research Institute said that the global nuclear arsenal, since the cold war, is expected to increase drastically in the next few years and reversal this amid tensions between Russia and Ukraine is unlikely.

John Erath, senior policy director for the Centre for Arms Control and Non-Proliferation, warned earlier that NATO was only capable of blocking an “extremely limited attack” if Russia were to launch a ballistic missile.

As record temperatures hit the UK, scientists claim that frequent and intense heatwaves are the result of human-induced climate change. 

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Daily Brief

Key Ports in Ukraine are Severely Attacked from Russian Missiles

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Russian Intercontinental Ballistic Missile launched from Plesetsk
  • According to Ukrainian reports, the city of Odessa was severely attacked, even though Russia agreed to not target any ports with grain shipment.
  • These products are vital to fight against the global food crises and caught on fire after the attack, in which Russia claimed they had nothing to do with the attack.
  • Russia attacked a key port after the signature of the Istanbul Agreement and agreed with Ukraine to ease the exportation of grain.
  • As a result of Russia’s actions, Ukrainian forces have utilised new US missile supplies to target the Antonovsky Bridge in Kherson, which would harshly impact the Russian supply if the bridge was destroyed.

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All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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