In light of Russia’s war against Ukraine, the European Council decided to impose a new package of economic and individual sanctions against Russia.
The agreed package includes a series of strict measures to reinforce pressure on the Russian government and economy, weaken Russia’s military capabilities, and make the Kremlin pay for the recent escalation.
The package agreed introduces into the EU legislation the basis to put in place a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.
More specifically, it will be prohibited to provide maritime transport and to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil (as of December 2022) or petroleum products (as of February 2023) which originate in or are exported from Russia.
The price cap derogation would allow the provision of the transport and these services if the oil or petroleum products are purchased at or below a pre-established price cap.
The new prohibition for EU vessels to provide maritime transport for such products to third countries will apply as of the date in which the Council will unanimously decide to introduce the price cap.
The price cap will drastically reduce the revenues Russia earns from oil after its illegal war on Ukraine has inflated global energy prices.
As concerns trade, the EU is extending the import ban on steel products that either originate in Russia or are exported from Russia.
Further import restrictions are also imposed on wood pulp and paper, cigarettes, plastics and cosmetics as well as elements used in the jewellery industry such as stones and precious metals, that altogether generate significant revenues for Russia.
The package agreed today also comprises:
The sanctioning of individuals and entities that have played a role in the organisation of illegal “referenda”, representatives of the defence sector, and well-known persons spreading disinformation about the war.
The extension of the list of restricted items which may contribute to Russia’s military and technological enhancement or the development of its defence and security sector.
A full ban of the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets;
NIMASA set to open Lokoja office to harness waterways resources
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has disclosed that the Agency is set to reopen the Lokoja office, as part of efforts towards harnessing the Blue Economy, enhancing collaboration, while also promoting Research and Development.
The DG, who made this known when he played host to the Executive Secretary of the Kaduna State Emergency Management Agency (KADSEMA), Mal. Usman Hayatu Mazadu at the head office of the Agency in Lagos, noted that investment in research would play a major role in ensuring the harnessing of Nigeria’s maritime potentials.
“The key cardinal principle of opening the NIMASA Lokoja office is to improve on Research and Development.
He said, “Now, the Blue Economy has come to stay and very soon you will see the impact of what we have; in terms of the gains and benefits to grow our Gross Domestic Product while improving the well-being of our own Economy”.
Earlier in his remarks, Mallam Usman of KADSEMA lauded the Agency for the feat achieved so far, which cuts across the entire Nigeria.
Prince Nwokeabia rallies support for Comptroller Ukpanah, CAC Enugu/Anambra/Ebonyi\command, as she assumes office
She took over from Comptroller AM Adegbite who was re-deployed to Edo/Delta Area Command.
Customs, UN agency collaborate to fight smuggling
“On behalf of the entire Management Team of the Nigeria Customs Service, I wish to inform you that we will partner with you in this campaign, and we will grant you all forms of support you may need to carry out this campaign — and I want to assign one of our amiable DCGs, Abba Kura, to work with you closely.”
He appreciated how they traveled from afar to inform the Nigeria Customs Service of their campaign against smuggling, which, according to him, the Nigeria Customs Service has already started yielding positive results in suppressing the menace of smuggling.
The CGC also welcomed Dr Raymond’s offer to engage officers and men of the Service in capacity—building to enhance their understanding of digital literacy skills, adding that the Service has already started embracing technology to advance its work by introducing related courses to officers.
The CGC appreciated the collaborative effort between the Nigeria Customs Service and UN—Habitat and believes that the collaboration signifies a commitment to tackling smuggling and enhancing trade facilitation in the nation, setting the stage for a more prosperous future.
He also appreciated their pledge to train officers and men of the Service in digital literacy skills, assuring that the Service will continue to prioritize proficiency in the fight against smuggling through a technological approach.
He underscored the importance of digital skills, promising that the relevant Service department will enhance trade facilitation.
On his part, the Director of UN—Habitat, Dr. Raymond Edoh, appreciated President Bola Ahmed Tinubu for reposing the responsibility of heading the Nigeria Customs Service on the Acting Comptroller-General, describing him as “a competent Customs officer who knows the terrain and masters the job.”
According to him, they decided to visit the Ag. CGC at the Customs Headquarters to express their interest in partnering with the Service.
He appreciated the Service for being a “gatekeeper of the country” that protects citizens against border threats, stressing that his organization will collaborate with NCS to mitigate the smuggling of illicit goods and train officers and men of Customs on digital literacy skills and certification.
UN-Habitat is the United Nations entity responsible for developing urban policies and translating them into action to create sustainable cities and promote viable urban development and adequate shelter for all.
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