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Thursday, May 26, 2022

War sanctions… Ferrari Formula 1 cars without the Russian “Kaspersky” logo

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Western sanctions imposed on Moscow, in the context of its military operations in Ukraine, have affected many Russian companies, most recently Kaspersky.

The luxury sports car maker has decided to remove the Moscow-based Kaspersky Lab logo from its Formula One cars and will assess its supply relationships with the security software maker, a Ferrari spokesman said on Thursday.

The spokesperson added that the Kaspersky logo has been removed from the team’s Formula One cars, drivers’ helmets and online platforms, as the partnership is temporarily suspended at the moment due to a joint decision made by the two companies. .

The spokesman said that Kaspersky was one of the providers of antivirus software for Ferrari.

“We are evaluating the situation,” he added in response to a question about the possible evolution of supply relations between the two companies.

Sanctions imposed on Moscow

The United States and Britain decided to ban Russian oil and gas in response to Russia’s military operations in Ukraine, and the European Union has pledged to end its dependence on Russian gas exports by 2030.

The announcement represented an escalation of sanctions that Western powers had already imposed on Moscow since its forces entered Ukraine.

US President Joe Biden has banned all imports of Russian oil and gas, acknowledging that the decision was “not without internal costs” but said he made it “in close consultation” with allies.

In turn, the UK will gradually wean itself off Russian oil imports until the end of 2022.

The European Union currently imports a quarter of its oil and about 40 percent of its gas from Russia, so the bloc has yet to announce a full ban on the Russian energy sector.

But the European Commission said it would switch to alternative supplies and expand clean energy more quickly, hoping to allow Europe to wean itself off Russian oil and gas imports altogether “before 2030.”

Germany has suspended approval of the Nord Stream 2 pipeline, a 1,200-kilometre natural gas pipeline project stretching from western Russia to Germany under the Baltic Sea.

Western leaders have frozen the assets of the Russian Central Bank, limiting its ability to access $630 billion in its reserves.

Britain, the European Union, and the United States have banned their citizens and businesses from conducting financial transactions with the Russian Central Bank, the Russian Ministry of Finance, or the Russian sovereign wealth fund.

The sanctions included the removal of some Russian banks from the SWIFT system, which allows easy transfer of funds between different countries, which will hinder Russia’s ability to earn revenue from the sale of its oil and gas.

Britain also imposed several additional sanctions on Moscow, including excluding major Russian banks from the British financial system, freezing the assets of all Russian banks, enacting laws to prevent Russian companies and the government from obtaining funds from British markets and the establishment of a maximum amount of money that Russians can deposit in British banks.

In turn, the European Union announced the imposition of sanctions against 70 percent of the Russian banking market and the main Russian state-owned companies.

sanctions for people

Western sanctions have also targeted several prominent people in Russia, led by President Vladimir Putin and his Foreign Minister Sergei Lavrov, whose assets in the United States, Canada, the European Union and Britain have been frozen, in addition to his travel ban to the United States.

In addition, the United States targeted the assets of eight other Russian oligarchs and officials, including businessman Alisher Usmanov.

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