Secondary sanctions go a step further and extend to third-party countries, companies or individuals that do business with sanctioned parties. Even though these third-party entities aren't directly bound by the sanctioning country's laws, they are pressured to comply or face consequences should they do business in the sanctioning country.
The launch of a 10-year eurobond by the European Commission on June 15, 2021, symbolized a shift in the EU's approach towards joint debt issuance and economic collaboration.
Trump stated, "India has always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China." He criticized India's tariffs as "among the highest in the World." This decision is partly to punish India for its economic ties with Russia amid the ongoing war in Ukraine.
Gold prices fell as optimism grew for a ceasefire between Russia and Ukraine, and the largest outflow from gold-backed ETFs since September 2022 pressured the market.