HOUSTON President Vladimir V to finance the war in Ukraine. The European Union (EU) has said in a statement that it wants to reduce Putin’s power. They have proposed a complete embargo on Russian oil. This is because Moscow has demonstrated its destructive power through missile strikes and deadly attacks in the west of the country. EU leader Ursula von Der Lane has announced plans to suspend imports of crude oil and refined oil products by the end of the next six months. If approved this week, as expected, it will be the group’s biggest and most costly move to support Ukraine and end its dependence on Russian fossil fuels.
Despite the reluctance of some countries to impose sanctions, Hungarian Foreign Minister Peter Sigarto complained about its ‘certainly short deadline’. With this, Europe showed remarkable unity and moved to isolate Russia politically and economically. Those efforts continued on Wednesday as Ukraine pledged more military support to its western neighbor, Moldova, which includes the Russian-backed secession area.
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However, just days before Russia’s Victory Day holiday on Monday, Putin will traditionally preside over a grand parade celebrating the Soviet victory over Nazi Germany. With destructive force, Russia smashed targets along Ukraine’s border. Officials say at least 21 people were killed in Tuesday’s attacks in eastern Donetsk, and missiles that cut off power in the western city on Tuesday night crashed into power substations in Lviv, 600 miles away.
Biden visits Lockheed Martin Factory in Alabama On Tuesday, Biden told workers there that he was empowering Ukrainians to defend themselves in the struggle “between dictatorship and democracy.” About 130 women, children and the elderly from Mariupol arrived at an evacuation site on Tuesday. They described living in bunkers under a steel plant with no food or water for weeks and enduring constant flooding of explosives.
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The German finance minister has said that Germany plans to issue visas and jobs to Russians seeking to escape Putin’s government. German exports to Russia fell 62.3 percent in March from a month earlier, government data showed on Wednesday. This is exactly the style of governing the country that he has used in Russia. Putin’s decision is considered a punishment. The European Union and the United States have imposed tougher economic sanctions on Russia since the February 24 invasion, and Brussels is expected to adopt an additional package of measures later this week, including plans to ban oil.
The sharp decline in exports to Russia reflects the close economic ties between the two countries in recent decades. Several German companies, including automaker Volkswagen, have stopped exporting their products to Russia. However, German companies sold goods worth 1 1 billion (approximately $ 1.06 billion) to Russia in March, as some non-embargoed companies were reluctant to sever ties with the country. Packaged drugs are one of the most important items that Russia continues to buy from Germany. They have been exempted from sanctions along with food, seeds and medical equipment.
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Global chemical and health product giant Bayer has suspended all trade in Russia and Belarus. But it continues to sell essential products in both countries. The company has been under pressure from peace activists and pro-Ukrainian groups for its decision, which it defended in a statement citing its moral responsibility. Overall, German exports fell 3.3 percent this month compared to February, according to the Federal Statistics Office. Unlike March 2021, when the country emerged from a lockdown aimed at preventing the spread of the corona virus, it said overall exports had improved by more than 8 per cent.
According to the World Trade Organization, Germany is the third largest exporter in the world after China and the United States. The U.S. continues to be Germany’s most important market overseas, with Americans importing 3.2 percent more goods in March, valued at 11.5 billion euros.