Newsletter of the main news 03.11/09.11

1️⃣ Frozen Russian Assets

 

Five Norwegian political parties urged the government to use the country’s €1.8 trillion sovereign wealth fund to help finance the EU’s €140 billion credit package for Ukraine. The initiative aims to ease Belgium’s opposition to using frozen Russian assets for Kyiv’s support. Oslo said it is conducting a “comprehensive review” of its possible participation in the plan.

 

The EU must agree on a reliable financial plan to support Ukraine before the IMF releases a new $8 billion aid package. Commissioner Valdis Dombrovskis said the EU could fund the support through frozen Russian assets, but legal risks — particularly Belgium’s position — are slowing progress. A final decision is expected at the upcoming EU summit in Brussels.

 

The United States has endorsed the EU’s plan to use frozen Russian assets to finance aid for Ukraine. A Reuters source said Washington fully supports Brussels’ current steps and is considering further measures to increase pressure on Russia, including sanctions against Rosneft and Lukoil.

 

The EU and Belgium have yet to agree on a mechanism for using frozen Russian assets to aid Ukraine. Brussels calls for exploring all legally sound options, while Belgium insists on transparency and safeguards. Talks continue, but time for a decision is running out.

 

Slovak Prime Minister Robert Fico opposed using frozen Russian assets to fund aid for Ukraine, saying he would reject any scheme that directs funds to military spending, calling such an approach “a way to fuel the war.”

 

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2️⃣ International Sanctions Policy

 

The United States has partially eased sanctions against Belarus, lifting restrictions on the airline Belavia and several aircraft used by the Lukashenko regime. The Treasury Department also issued a license allowing certain operations with three related aircraft, including a presidential Boeing 737 and a helicopter owned by Slavkali.

 

The European Parliament is preparing a resolution calling for sanctions against Hungary over systematic violations of EU values. The document cites the erosion of democracy and the rule of law and urges the activation of Article 7(2) of the EU Treaty. A vote is scheduled for 24 November in Strasbourg.

 

Sanctions imposed by the US and UK have effectively paralyzed Lukoil’s international operations: Iraq canceled oil shipments from the West Qurna-2 field, British brokers refuse to charter vessels, and Finnish banks have halted services for Teboil gas stations. Thousands of jobs and refinery operations are now at risk.

 

Bulgaria is considering nationalizing its Burgas refinery, which supplies 80% of the country’s fuel, amid fears of shortages following new US sanctions. Parliament passed a bill allowing refinery sales only with government and security-service approval, overriding President Rumen Radev’s veto. Meanwhile, Lukoil said its foreign assets may be purchased by Switzerland’s Gunvor.

 

Swiss trader Gunvor withdrew its offer to buy Lukoil’s international assets after the US Treasury called it a “Kremlin puppet” and said the deal would not be approved. The company denied ties to Russia but canceled its bid, which covered refineries and oil assets in Europe, Asia, and Latin America.

 

The EU has banned Russian citizens from obtaining multiple-entry Schengen visas to tighten vetting and reduce security risks. Exceptions apply only to close relatives of EU citizens, Russians with residence permits, as well as independent journalists and human-rights defenders.

 

Lukoil announced it will cease operations in Moldova on 21 November due to US sanctions that froze its accounts and blocked the sale of assets to Gunvor. Energy Minister Dorin Jungietu said the government may buy the assets to prevent fuel shortages and is negotiating alternative supplies with Romania and Bulgaria.

 

The US granted Hungary a one-year exemption from all sanctions on Russian energy. Under the deal, Budapest will purchase $600 million worth of American LNG, while oil and gas flows via TurkStream and Druzhba pipelines will continue unrestricted. Prime Minister Viktor Orbán said this ensures the lowest energy prices in Europe.

 

The EU has begun preparing its 20th sanctions package against Russia, according to Lithuania’s Finance Ministry. Member states also plan to strengthen restrictions on Belarus in line with existing measures against Russia. The European Commission said it is working with third countries that help Moscow evade sanctions.

 

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3️⃣ Sanctions Violations and Evasion

 

British authorities discovered 33 properties linked to sanctioned Russian oligarchs that were not included in the asset-freeze registry. Among them are the Witanhurst mansion, owned by the Guryev family, and Roman Abramovich’s £90 million Kensington Palace Gardens residence. Many properties are registered to offshore firms or relatives to bypass sanctions.

 

Estonia detained pro-Kremlin blogger Oleg Besedin on suspicion of cooperating with Russian intelligence and distributing content from sanctioned media outlets. Prosecutors said he participated in Kremlin information-influence campaigns, which qualify as a state crime and a breach of EU sanctions.

 

Half of the proceeds from the sale of the football club Chelsea could go toward repaying loans to Roman Abramovich’s companies rather than aiding Ukraine. Of the £2.35 billion sale, only £923 million may reach the intended charity fund, while the rest could return to the oligarch’s offshore entities. The money remains frozen amid a dispute with the UK government.

 

Latvia is investigating more than 600 criminal cases for violations of sanctions against Russia, according to the Financial Intelligence Service. Most involve attempts to transport banned goods across the border, often by companies registered in other EU states. Officials noted that serious breaches are rare and Latvia cooperates closely with its European partners.

 

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4️⃣ Ukraine’s Sanctions Policy

The International Register of Damage introduced a new category for tenants and people who lost access to rented or family-owned housing due to the war. Applicants can report loss of residence, personal belongings, or relocation expenses. Claims under category A3.3 can be submitted via the Diia portal. Nearly 70,000 applications have been filed.

 

Ukraine has enacted the EU’s 19th sanctions package against Russia, President Volodymyr Zelenskyy announced. The restrictions target Russian resource exports and the supply of electronic components that generate billions in profits for the Kremlin. Ukraine also imposed its own sanctions on Arctic resource companies and is preparing new NSDC measures against propagandists, arms manufacturers, and collaborators.