Fashion
European Commission announces 19th package of sanctions against Russia
“We are aligning our sanctions with our G7 partners, under the steer of the Canadian presidency,” von der Leyen said in an official statement announcing the sanctions.
The European Commission has announced the EU’s 19th package of sanctions against Russia.
These are sanctions on the energy front, targeting the financial loopholes that Russia uses to evade sanctions and new direct export restrictions for battlefield items and technologies.
The Commission is also working on a new solution to finance Ukraine’s defence efforts based on the immobilised Russian assets.
The Commission is banning imports of Russian LNG into European markets. “We have been saving energy, diversifying supplies and investing in low-carbon sources of energy like never before….Then, we have just lowered the crude oil price cap to $47.6. To strengthen enforcement, we are now sanctioning 118 additional vessels from the shadow fleet. In total, more than 560 vessels are now listed under EU sanctions,” she said.
Major energy trading companies Rosneft and Gazpromneft will now be on a full transaction ban. And other companies will also come under asset freeze.
“We are now going after those who fuel Russia’s war by purchasing oil in breach of the sanctions. We target refineries, oil traders, petrochemical companies in third countries, including China. In three years, Russia’s oil revenues in Europe have gone down by 90 per cent. We are now turning that page for good,” she said.
The Commission is putting a transaction ban on additional banks in Russia and on banks in third countries.
“We are stepping up our crackdown on circumvention. As evasion tactics grow more sophisticated, our sanctions will adapt to stay ahead. Therefore, for the first time, our restrictive measures will hit crypto platforms, and prohibit transactions in crypto currencies. We are listing foreign banks connected to Russian alternative payment service systems. And we are restricting transactions with entities in special economic zones,” she said.
The Commission is adding new direct export restrictions for items and technologies used on the battlefield. It has listed 45 companies in Russia and third countries that have been providing direct or indirect support to the Russian military industrial complex.
“We know that our sanctions are an effective tool of economic pressure. And we will keep using them until Russia comes to the negotiation table with Ukraine for a just and lasting peace,” she reiterated.
In parallel, the Commission is also working on a new solution to finance Ukraine’s defence efforts based on the immobilised Russian assets. With the cash balances associated to these Russian assets, Ukraine can be provided with a reparations loan, she noted.
“The assets themselves will not be touched. And the risk will have to be carried collectively. Ukraine will only pay back the loan once Russia pays reparations. We will come forward with a proposal soon,” she added.
Fibre2Fashion News Desk (DS)
ICE December cotton futures settled at 64.54 cents per pound, down 0.69 cents.
ICE cotton futures declined amid weakness in US stocks and grains, with traders awaiting the USDA’s supply and demand report due on November 14, 2025.
Technology and AI-related stock losses and uncertainty around President Trump’s tariff policies further dampened sentiment.
Brazil’s October cotton exports rose 5 per cent year-on-year, while ICE deliverable inventories remained steady at 13,749 bales.
Market analysts noted that the fall in the stock market was the primary driver behind the decline. Weakness in grain prices added further pressure on cotton values. US stocks closed lower on Thursday, extending losses from earlier in the week. Technology and AI-related stocks led the declines due to concerns about overvaluation and economic uncertainty.
The US Supreme Court heard arguments challenging President Trump’s broad tariff policies, heightening global trade concerns. US Trade Representative Greer stated that some plaintiffs could receive refunds if the court rules against the tariffs, subject to Treasury’s scheduling.
CBOT soybean futures fell sharply as optimism over renewed demand weakened following signs of easing trade tensions.
Traders are now focused on the USDA’s delayed monthly supply and demand report, scheduled for release on November 14, 2025. Despite the ongoing US government shutdown, the USDA confirmed it is collecting survey data for upcoming crop yield reports.
Brazil’s cotton exports totalled 293,928.51 tons in October, up 5 per cent year-on-year, with daily shipments averaging 13,360.39 tons, also up 5 per cent.
ICE data showed deliverable No. 2 cotton futures inventory unchanged at 13,749 bales as of November 05, 2025.
This morning (Indian Standard Time), ICE cotton for December 2025 traded at 64.66 cents per pound (up 0.12 cent), cash cotton at 62.04 cents (down 0.69 cent), the March 2026 contract at 65.90 cents (up 0.13 cent), the May 2026 contract at 67.11 cents (up 0.13 cent), the July 2026 contract at 68.07 cents (unchanged), and the October 2026 contract at 68.08 cents (down 0.51 cent). A few contracts remained at their previous closing levels, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
Published
November 7, 2025
Global fashion retailer Mango has opened its first store in Aberdeen at the Union Square shopping centre, creating 20 new jobs. It’s the ninth store in Scotland, as Mango looks to strengthen its presence there.
Mango also said the opening forms part of its ongoing ambitious expansion strategy, which aims to open a further 500 stores globally between 2023 and 2026, including 20 in the UK this year
The 4,844 sq ft store features the brand’s now-standard New Med design concept, inspired by the brand’s Mediterranean heritage and culture, alongside Mango’s latest womenswear collection, including clothing, footwear and accessories.
This latest opening forms part of Mango’s 2024-2026 strategic plan, which aims to drive sales and store expansion, including an ambitious roadmap to expand Mango’s store presence across the UK, “a priority growth market”.
Fiona Cullen, International Regional director for the UK & Ireland, said: “Our new Mango Woman store in Aberdeen is a confident step forward for Mango, building on the strong progress we have made over the last year to broaden the appeal of Mango to even more customers across the UK. Aberdeen is the perfect new home to introduce our womenswear collection to the more Scottish customers, in a store format that truly represents the Mediterranean soul of our brand.”
The expansion plan builds on Mango’s strong performance. In July the Spanish brand reported global turnover of €1.73 billion (£1.52 billion) inforthe first half of 2025, up 12% year on year (14% at constant exchange rates). It noted the growth was driven by “the popularity of its collections and new store openings”.
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