Latest Trade barriers News

EU takes China to WTO over Lithuania trade dispute

Dec. 07, 2022 06:37 AM EST

BRUSSELS (AP) — The European Union announced Wednesday that it has begun legal action at the World Trade Organization against China over what it says are import restrictions Beijing has imposed on Lithuania. The European Commission estimates that China cut trade from the EU member...

Tensions over trade deals exposed at Mercosur summit

Dec. 06, 2022 19:41 PM EST

MONTEVIDEO, Uruguay (AP) — A summit of the four Mercosur nations exposed tensions Tuesday as Uruguay's eagerness to seek out foreign markets collided with opposition from Brazil, Argentina and Paraguay. Uruguayan President Luis Lacalle Pou said his country must “open up to the...

Russian oil price cap, EU ban aim to limit Kremlin war chest

Dec. 05, 2022 13:43 PM EST

FRANKFURT, Germany (AP) — Major Western measures to limit Russia's oil profits over the war in Ukraine took effect Monday, bringing with them uncertainty about how much crude could be lost to the world and whether they will unleash the hoped-for hit to a Russian economy that has held up better...

Seoul places new sanctions on North Korea over arms buildup

Dec. 01, 2022 23:31 PM EST

SEOUL, South Korea (AP) — South Korea on Friday sanctioned eight people and seven companies suspected of engaging in illicit activities to finance North Korea’s growing nuclear weapons and missile programs. The move, which prohibits South Koreans from conducting any type of...

EU edges closer to $60-per-barrel Russian oil price cap

Dec. 01, 2022 22:44 PM EST

BRUSSELS (AP) — The European Union was edging closer to setting a $60-per-barrel price cap on Russian oil — a highly anticipated and complex political and economic maneuver designed to keep Russia's supplies flowing into global markets while clamping down on President Vladimir Putin's ability...

EU, US edging toward trade spat when both want unity instead

Nov. 25, 2022 12:43 PM EST

BRUSSELS (AP) — The European Union and the United States are treading precariously close to a major trans-Atlantic trade dispute at a time when the two Western giants want to show unity in the face of challenges from Russia and China. EU trade ministers on Friday insisted they...

Bulgaria to let Russian oil refinery export despite EU ban

Nov. 22, 2022 08:06 AM EST

SOFIA, Bulgaria (AP) — Bulgaria will allow a Black Sea refinery owned by a Russian oil company to keep operating and exporting oil products to the European Union until the end of 2024 despite warnings by Brussels that it is against the bloc’s sanctions. The deal between Bulgaria...

As British voters cool on Brexit, UK softens tone towards EU

Nov. 20, 2022 10:33 AM EST

LONDON (AP) — The British government on Sunday denied a report that it is seeking a “Swiss-style” relationship with the European Union that would remove many of the economic barriers erected by Brexit — even as it tries to improve ties with the bloc after years of acrimony. ...

UN maintains Somali arms embargo over government objections

Nov. 17, 2022 23:43 PM EST

UNITED NATIONS (AP) — The United Nations Security Council voted Thursday to maintain an arms embargo on Somalia over strong objections from its government, saying the al-Shabab “terrorist group” still seriously threatens peace and stability in the region and sanctions are needed to degrade...

Sanctioned tycoon says Russia wants to engage on climate

Nov. 16, 2022 17:02 PM EST

SHARM EL-SHEIKH, Egypt (AP) — A Russian billionaire under sanctions by the United States and Europe over his alleged ties to the Kremlin said Wednesday that he was not surprised by protests against his country at this year's U.N. climate talks, but insisted that Russia wants to remain engaged on...