Wednesday, June 12, 2024

EU plans new sanctions on Russia for Ukraine war anniversary

The EU would no longer be allowed to sell goods and technologies with military connections to Russia.

• February 5, 2024
Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky
Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky

The European Union says it is preparing to impose a new package of sanctions on Russia for the second anniversary of the war in Ukraine later this month.

According to information obtained on Monday, the sanctions are to be significantly expanded to include more people and organisations whose EU assets will be frozen.

In addition, further companies that contributed to Russia’s military and technology development or to advancing its defence and security sector will be targeted for sanctions.

The EU would no longer be allowed to sell goods and technologies with military connections to Russia.

The EU recently used this tactic to target companies based in China, Uzbekistan, Iran and the United Arab Emirates, for example, which are allegedly involved in circumventing the EU’s punitive measures.

The concrete proposals for what is now the 13th sanctions package were presented to EU member state representatives by top European Commission officials over the weekend.

The next step will be to draft a sanctions resolution, which all 27 EU countries will have to formally approve.

According to the sanctions proposals, well over 200 people and companies could be affected.

The last EU sanctions package on Moscow included a ban on importing diamonds and jewellery from Russia.

A far-reaching ban on imports of crude oil, coal, steel, gold and luxury goods, as well as measures aimed at banks and financial institutions, had been in place for some time.

The long-planned absorption of proceeds from frozen Russian Central Bank funds could also be decided at the same time as the upcoming sanctions package.


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