© Ukrainian Presidential Press Service/Handout via REUTERSUkraine's President Zelenskiy and Prime Minister Shmygal attend a meeting with Czech Prime Minister Fiala, Slovenia's Prime Minister Jansa, Polish Prime Minister Morawiecki and Deputy Prime Minister Kaczynski in Kyiv, Ukraine March 15, 2022.
Poland has proposed to the European Union that the bloc impose a total ban on trade with Russia, Prime Minister Mateus Morawiecki said on Saturday, urging tougher sanctions on Moscow for its
invasion of Ukraine.
"Poland is proposing to add a trade blockade to this package of sanctions as soon as possible, (including) both of its seaports... but also a ban on land trade. Fully cutting off Russia's trade would further force Russia to consider whether it would be better to stop this
cruel war," Morawiecki said.
Prior, the Polish government had announced it will present a proposal to organize a peacekeeping mission in Ukraine at the upcoming NATO summit and European Council meeting.
The idea was put forward by Jarosław Kaczyński, the head of the ruling party, during the visit to Kyiv of the Polish, Czech and Slovenian prime ministers.
During the daring visit last week, The prime ministers of Poland, Slovenia and the Czech Republic met Ukraine's President Volodymyr Zelensky on as a curfew began in Kyiv.
Afterward, the Czech leader told Ukrainians that they were
"not alone". They are the first Western leaders to visit Ukraine since Russia invaded.
"We admire your brave fight," Petr Fiala wrote in a tweet.
"We know that you're also fighting for our lives. You're not alone, our countries stand by your side." "Your visit is a powerful expression of support for Ukraine," President Zelensky was quoted telling the group.
Poland's Mateusz Morawiecki tweeted that Ukraine was reminding Europe what courage was. It was time for
"sluggish and decayed" Europe to reawaken and "break through her wall of indifference and give Ukraine hope", he said.
Earlier this week EU member states agreed on the fourth package of sanctions against Russia. Details were not disclosed, but the French presidency said Russia's "most-favored-nation" trade status would be revoked.
Comment: RT
reports on the US backtracking on its threats to ban Russian oil:
On March 8, President Joe Biden announced his administration was banning Russian oil, natural gas and coal imports to the US as part of a sanctions package in response to Russia's military operation in Ukraine. Two days later, the House of Representatives passed a bill to ban Russian energy imports. The media, which speculated how long it would take for sanctions to turn toward energy carriers, quickly picked up the news, with some Western experts saying the US move could be followed by other countries.
However, according to CNN, US Senate sources are now saying it's unlikely their chamber will move on the bill to turn it into law. The sources explain that the move by the Senate is considered unnecessary after the president took executive action to ban the imports. Also, according to Senator Joe Manchin, who chairs the Senate Energy Committee, the House bill is weaker than Biden's executive action, so the Senate is reluctant to move on the measure.
If the Senate does not approve the bill, the import ban won't turn into law, and US importers can continue buying Russian energy.
According to official data, Russia supplied 8% of US imports of crude oil and petroleum products last year. With gasoline prices in the country hitting record highs this month, any disruption could push prices higher.
At the same time, the loss of the US market would barely impact Russia's oil earnings, because the country has much bigger importers across the globe. To be effective, individual country bans would need to be mirrored by a number of states to actually affect the Russian energy export sector. Some analysts say that may be the reason Washington decided to introduce the ban in the first place - as a symbolic gesture to raise pressure on other countries and oil companies to follow suit and cease energy purchases from Russia.
However, widely banning supplies from the globe's second-biggest crude producer would hurt Western countries as much as Russia. Higher oil prices would inevitably lead to higher levels of inflation and be a strain on consumer budgets. And this, in turn, could lower the readiness of voters to support the sanctions policy.
The West currently has NO alternative to a great variety of Russian commodities, that's why it is
helplessly scrambling to beg other countries, and remove sanctions from others, to coerce them on board:
RT
reports that South Korea, that has been granted some
exemptions from US sanctions, continues to trade with Russia, regardless:
South Korea plans to open temporary settlement lines between domestic banks and their units in Russia in order to help local firms finance trade that's been made difficult by international sanctions against the country over its military operation in Ukraine, Yonhap News Agency reported on Friday.
The measure - to be introduced at the end of this month - is aimed at minimizing the use of global intermediary banks that avoid dealing with Russia due to sanctions, causing the transactions to be delayed or rejected.
"The method is expected to enable swift payments as it will minimize the use of intermediary banks," Yonhap quotes from a statement by the Financial Services Commission (FSC).
The new settlement lines, however, will not be used for transactions with Russian banks or to trade in items that are on the list of global sanctions against Moscow.
Last December, trade between Russia and South Korea was reported to have increased by nearly 60% as economies started to recover from the Covid-19 pandemic, totaling roughly $22 billion in the first nine months of 2021. The biggest areas of cooperation included energy, transport, agriculture and health-care sectors.
South Korea joined the US, the EU and other nations in imposing sanctions against Russia, banning transactions with Russia's Central Bank, introducing export controls and removing Moscow from the SWIFT global payment system, among other measures.
Meanwhile Deutsche Bank, probably aware of the West's pitiful position, as well as that the tide is turning, and fast, lets it be
known that it is hesitant to sabotage itself any further:
Deutsche Bank CEO Christian Sewing has urged European authorities to take their time when it comes to escalating sanctions against Russia over the military standoff in Ukraine, saying that the measures may have negative impact on the bloc as well.
"We should first let the announced sanctions take effect," Sewing said, in an interview with Welt am Sonntag, adding that the penalties have been causing enormous damage to the Russian economy.
"However, these sanctions also have a negative impact on us, and we must endure this," the head of Germany's largest financial institution said, adding states should be thinking "again and again" before introducing tougher ones.
Sewing stressed that any decision to be taken by European authorities would be supported.
The top manager also criticized the latest proposal to shut down the Nord Stream 1 gas pipeline, as such a development would pose a threat to the energy security of the entire bloc.
"If we curtail Nord Stream 1, although this will not mean the end of Russian gas supplies to Germany, this will soon lead to serious problems with energy supply, and a significant increase in prices in our country," Sewing said.
In February, Poland's Prime Minister Mateusz Morawiecki asked operators of the Nord Stream 1 natural gas pipeline, which carries more than a third of Germany's natural gas imports, to shut the route down. German energy giant E.ON, which operates the pipeline, has rejected the calls.
German CEO has called for increasing investments in renewable energy sources and to "expand their use as quickly as possible." Sewing also said that a technology-intensive nation such as Germany shouldn't rule out nuclear energy in such a decisive way.
Earlier this month, Deutsche Bank said it would shut down its business in Russia due to Moscow's offensive in Ukraine.
Finally, RT reports that Berlin is at a loss as to how, if it goes ahead with the establishments ultimate efforts which is to isolate Russia completely, Germany will function:
Germany's vice chancellor has said that next winter's gas supplies to his country have not so far been secured. Robert Habeck, who also serves as the economy and climate minister, hasn't ruled out there being a so-called domino effect, with a setback in the gas supply chain causing a knock-on shortage in other facilities.
"If we don't receive further gas supplies ... and the deliveries from Russia are capped or stopped, we wouldn't have enough to keep all our houses warm and to keep all our industry running," Habeck said, in an interview with the German radio station Deutschlandfunk.
The warning comes ahead of his visit to the Persian Gulf, which begins on Saturday. In Qatar, one of the world's largest exporters of liquefied natural gas, Habeck is scheduled to meet with the emir, Sheikh Tamim bin Hamad Al Thani, and other government officials. On Monday, he is expected to participate in talks with United Arab Emirates ministers.
The visit is part of Germany's efforts to diversify its gas imports as it seeks to reduce its dependency on Russia in the wake of the latest escalation in the conflict with Ukraine. Earlier this week, Habeck traveled to Norway on a similar mission.
Comment: RT reports on the US backtracking on its threats to ban Russian oil: The West currently has NO alternative to a great variety of Russian commodities, that's why it is helplessly scrambling to beg other countries, and remove sanctions from others, to coerce them on board:
- Why the UAE is shrugging off Washington's diktats
- UK PM returns from Saudi Arabia empty handed after begging dictators for oil increase
RT reports that South Korea, that has been granted some exemptions from US sanctions, continues to trade with Russia, regardless: Meanwhile Deutsche Bank, probably aware of the West's pitiful position, as well as that the tide is turning, and fast, lets it be known that it is hesitant to sabotage itself any further: Finally, RT reports that Berlin is at a loss as to how, if it goes ahead with the establishments ultimate efforts which is to isolate Russia completely, Germany will function: