10,746.98 TRY BIST 100 BIST 100
46.32 EUR EUR EUR
40.59 USD USD USD
5.66 CNY CNY CNY
0.12 CNY CNY/EUR CNY/EUR
39.88 TRY Interest Interest
71.28 USD Fossil Oil Fossil Oil
48.71 USD Silver Silver
4.45 USD Copper Copper
99.02 USD Iron Ore Iron Ore
332.00 USD Shipbreaking Scrap Shipbreaking Scrap
4,387.23 TRY Gold (gr) Gold (gr)

EU and US sanctions message to Russia: 17th package on the way

The European Union is preparing a 17th package of sanctions against Moscow in response to Russia's refusal to accept a ceasefire in Ukraine. French Foreign Minister Jean-Noël Barrot announced that the sanctions will be imposed in coordination with the United States.

EU and US sanctions message to Russia: 17th package on the way

In an interview with AFP, Barrot stated that the EU will support the new sanctions, which are being prepared at the initiative of US Republican Senator Lindsey Graham. “We Europeans will support this American initiative with the 17th package of sanctions and I promised Lindsey Graham yesterday that we will try to harmonize both the content and the timing of these two packages,” he stated.

The French minister emphasized that the “only obstacle” to peace in Ukraine is Russian President Vladimir Putin. Recalling that the Kiev government accepted an unconditional ceasefire and signed an agreement with the United States on critical minerals, Barrot stated: "Vladimir Putin's Russia has made no effort. They have not given any signal that they are ready for a ceasefire and peace,"

Referring to the possibility of economic cooperation between France and Ukraine on rare earth elements and critical minerals, Barrot noted that negotiations are ongoing in this field and possible opportunities are being evaluated.

On the other hand, Senator Lindsey Graham announced that a new sanctions bill will be implemented if Russia does not start serious negotiations for a ceasefire. Graham's bill is supported by 72 US senators. The bill would impose a 500% tariff on countries that purchase Russian oil, natural gas, uranium or petroleum products. It would also ban Americans from investing in Russian sovereign debt.

“I want a just and honorable end to the war, and I think Trump is the best person to achieve that goal, but these sanctions show that the Senate sees Russia as the primary threat,” Graham stated.

US State Department spokeswoman Tammy Bruce confirmed the previous day that Washington was ready to impose more severe sanctions against Russia.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Steel prices in the Middle East shaped by production and demand dynamics

Monday, August 4, 2025

Alarm bells for the bankruptcy of Iran's steel industry

Monday, August 4, 2025

BlueScope-led consortium considers takeover of Australia's Whyalla steel mill

Monday, August 4, 2025

Japan Steel Works announced growth above expectations in the first quarter of fiscal 2026

Monday, August 4, 2025

Nippon Steel to fully acquire Kurosaki Harima

Monday, August 4, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now