EU agrees on new sanctions against Russia

EU countries want to impose new sanctions on Russia on the second anniversary of the war in Ukraine.

This is what the topic is about:

  • EU countries agree on new sanctions against Russia
  • The 13th package targets 200 institutions and individuals
  • Sanctions affect companies contributing to Russia’s military strengthening

Representatives of 27 member states reached an agreement on this issue in Brussels on Wednesday, the Belgian EU Council Presidency announced. In a statement following the basic agreement reached between the permanent representatives of the member states in Brussels on Wednesday, the Belgian Presidency said that the 13th package is one of the “most comprehensive” packages of the EU to date.

Therefore, the official decision in the written procedure is expected to be made before the second anniversary of Russia’s attack on Ukraine on Saturday. The Belgian EU Council Presidency said that the 13th sanctions package targets approximately 200 institutions and individuals that will be added to the existing sanctions list.

Attack on Russia’s military complex

Sanctions will also be imposed on additional companies that contribute to Russia’s military and technological strengthening or the development of the defense and security sector. They will no longer be allowed to sell goods and technologies for military purposes from the EU.

The EU has also recently used the tool to target companies based in China, Uzbekistan, Iran and the United Arab Emirates that are said to be trying to evade the EU’s punitive measures.

  • Schallenberg: There is a “criminal and murderous regime” in Russia

No new economic sanctions

As announced by the Belgian EU Council Presidency, the agreement between representatives of the member states on the 13th package of Russian sanctions must now be formalized in a written procedure. The sanctions package is seen as a symbol of the anniversary because it does not include a new and wide-ranging economic sanction.

According to information received from the German Press Agency, the new list will include a total of three-digit position numbers. Listed individuals are not only affected by the freezing of their assets. They are no longer allowed to do business with them or enter the EU. It should happen on the anniversary this Saturday.

The last EU sanctions package against Russia to date included, among other things, a ban on the import of diamonds and diamond jewelery from Russia into the European Union. There has long been a sweeping import ban on crude oil, coal, steel, gold and luxury goods, as well as punitive measures against banks and financial institutions.

Funds should go to Ukraine

EU officials in Brussels also point out that it has only recently been decided to seize revenues from the preservation of Russian central bank funds frozen for Ukraine. The agreed procedure provides, as a first step, for the segregation of extraordinary income from the safekeeping of the assets of the Bank of Russia. In the second stage, it is planned to transfer some of the funds to Ukraine. However, additional legal texts still need to be developed for this.

According to estimates, an amount of billions of dollars could arise every year, since, according to the Commission, more than 210 billion euros of money from the Russian central bank are frozen in the EU, and the income from the preservation of capital is constantly increasing. .

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Source: Vienna


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