NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Germany pushes for nuclear energy EU sanctions in next package

Published 17/04/2023, 15:14
© Reuters. FILE PHOTO: Plastic letters arranged to read "Sanctions" are placed in front of EU and Russia's flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration
ENRY
-

BERLIN (Reuters) - Germany is pushing for the European Union to include the civilian nuclear sector in the bloc's new sanctions package against Russia, the Economy Ministry said on Monday.

The European Union in February approved a 10th package of Russia sanctions on the anniversary of Moscow's invasion of Ukraine, but hundreds of millions of euros' worth of trade with Russia's nuclear energy industry has not been directly affected.

"The federal government spoke to the European Commission in favour of including the civilian nuclear sector. That should be part of the next sanctions package," the ministry said in a statement.

All EU countries must agree for the bloc to impose sanctions, and Hungary has vowed to oppose any curbs on the Russian nuclear energy industry.

Economy Minister Robert Habeck said the fact that the nuclear sector was still given preferential treatment in sanctions could not be justified.

"Nuclear technology is an extremely sensitive area. There can no longer be 'business as usual'," Habeck told ntv broadcaster on Saturday.

© Reuters. FILE PHOTO: Plastic letters arranged to read

The ministry said including the nuclear sector in the next sanctions package would take time, but said such measures should be implemented over transitional periods.

"It is important, however, that we start and do not shy away from decisive action in this area either," the ministry said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.