Brussels – AFP
The European Union imposed new trade restrictions on Russia and expanded the list of people targeted with an asset freeze and travel ban to the European Union, as part of an eighth sanctions package once morest Moscow that went into effect on Thursday. These new measures, published in the Official Journal of the European Union, are “a response to Russia’s escalation in the illegal war that it continues to wage once morest Ukraine and is manifested in particular by the annexation of Ukrainian territory following the “mock referendums”, the mobilization of additional forces and the public threat to use nuclear weapons,” as I mentioned European Commission.
The sanctions also pave the way for the implementation of a Russian oil price ceiling agreed upon by the Group of Seven, and for banning European citizens from holding positions in the management bodies of some Russian state-owned companies.
The eighth batch of European sanctions since the start of the war launched by Moscow on Ukraine on February 24, imposes a new import ban worth seven billion euros to reduce Russia’s revenues.
In particular, it includes a ban on imports of iron and steel products, machinery, appliances, plastics, vehicles, textiles, shoes, leather, ceramics, some chemicals and non-golden jewellery. The new export restrictions are aimed at limiting Russia’s ability to develop its defense and security sector.
In particular, it concerns “the ban on the export of coal, including coke (used in Russian industrial sites), certain electronic components (contained in Russian weapons) and technical materials used in the aviation sector, as well as some chemical products”, as stated by the European Commission.
A ban on the export of small-caliber weapons is also planned.
In addition, thirty people and seven entities have been added to a blacklist of more than 1,300 names subject to asset freezes and travel bans to the European Union. The persons and entities added to the list are “involved in the Russian war, illegal annexation and “false referendums” in the territories controlled by Moscow in the Donetsk, Lugansk, Kherson and Zaporizhia regions.” They include military and senior officials, as well as companies supporting the Russian armed forces.
The ban on crypto assets has been tightened, expanding the range of services that can no longer be provided to the Russian government.
The Commission stated that the ban imposed by the European Union on imports of Russian crude oil by sea remains in place.
The Commission said that “setting price ceilings, once implemented, will allow European operators to transfer Russian oil to third countries, provided that the price of the latter remains below the pre-set ceiling.”
She explained that the procedure, in coordination with the G7 partners, “will become effective following December 5, 2022 for crude oil and February 5, 2023 for refined petroleum products, following a new decision of the Council.”
