EUs

The European Union has introduced its 18th package of sanctions against Russia in response to its ongoing conflict with Ukraine. This initiative is primarily focused on further diminishing Russia's oil and energy sector. Here’s a summary of the key components included in this latest sanctions package. Oil Price Cap The EU will implement a dynamic price cap on Russian crude, set at 15% below its average market price, as announced by EU diplomats. Currently, this translates to a cap of approximately $47.60 per barrel,…

Mogadishu (AX) — A new chapter in maritime security has begun as Spain officially takes charge of the European Union’s long-standing counter-piracy operation off the coast of Somalia. On June 12, a formal ceremony witnessed Rear Admiral Francisco Javier Vázquez Sanz stepping into his new role as the commander of Operation Atalanta. Held aboard the Italian frigate, ITS Rizzo, stationed in Djibouti, this event marked not just a leadership change, but also a significant milestone in international collaboration to ensure…

The Recent Update to the EU Financial Blacklist: Implications for Africa The European Union (EU) has recently revised its financial blacklist, introducing five African nations—Algeria, Angola, Côte d’Ivoire, Kenya, and Namibia—into a category that raises serious concerns about deficiencies in their anti-money laundering and counter-terrorism financing systems. This update signifies that these countries are now classified as high-risk jurisdictions. As a result, EU financial institutions must exercise enhanced due…

European Union foreign ministers recently gathered in Brussels, but they failed to reach a consensus on suspending political dialogue with Israel. Polish Foreign Minister Radoslaw Sikorski shared this update following the discussions. Josep Borrell, the EU's departing foreign policy chief, urged his fellow ministers to evaluate whether Israel has violated the human rights stipulations contained in the EU-Israel Association Agreement. This subject has gained importance against the backdrop of ongoing violence. In remarks…

In a recent encounter that brought together minds from opposite ends of the global spectrum, Somalia's Prime Minister, Hamza Abdi Barre, sat down with Mathieu Briens, the European Union's Deputy Managing Director for Africa. This wasn't just a meeting of suits and ties but a convergence of ideas and aspirations aimed at putting Somalia on a robust path to a brighter future. The Somali national news agency, SONNA, was right on the scene, painting a picture of diplomatic engagement. Amidst the backdrop of this high-profile…

The European Union's chief diplomat recently expressed concerns over the United States' decision to grant Israel a month to address the growing humanitarian crisis in Gaza, arguing that far too many lives could be lost in that timeframe. "The US has urged Israel to enhance humanitarian aid to Gaza; however, a one-month extension feels inadequate. Given the current rate of casualties, far too many will die," remarked Josep Borrell to reporters just prior to an upcoming summit of EU leaders. US officials indicated that…