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The killing of Ukrainian civilians hastened the EU’s approval of a fifth set of sanctions against Russia. President of the European Commission, Ursula Von der Leyen, announced on Tuesday an immediate and complete embargo on Russian coal, which means Moscow’s annual revenue is 4 billion euros.Europeans are also considering bans Oil imports in the coming days.
As for Russian gasGermany and Austria are reluctant to give up, and Brussels is working on alternative measures such as implementing Surcharge or send payments to blocked accounts The Kremlin cannot finance the war.
The new sanctions package also includes a blanket ban on transactions at four major Russian banks, including VTB, Russia’s second-largest bank. These four entities are now completely isolated from the market and account for 23% of the Russian financial sector market share. “This will further weaken Russia’s financial system‘, von der Leyen insisted.
The EU will also ban Russian ships and ships operated by Russia from entering EU ports.expected Some exemptions cover essential items such as produce and food, humanitarian aid and energy. Road transport operators in Russia and Belarus will also be banned. “This ban will significantly limit options for Russian industry to obtain critical commodities,” the president said.
The fourth pillar of the fifth round of sanctions includes Further export bans targeting vulnerable regions of Russia, which is worth 10 billion euros. Affected industries include quantum computers and advanced semiconductors, but also sensitive machinery and transportation equipment. “In doing so, we will continue to weaken Russia’s technological base and industrial capabilities,” the president said.
The EU will approve new specific import bans worth 5.5 billion euros to cut off the flow of funds from Russia and its oligarchs, with products ranging from wood to cement to seafood or spirits. Finally, Russian companies will not be able to participate in public procurement in member states and will not include any financial support for Russian public institutions, whether European or national.
In addition, Brussels will expand its blacklist of Russian officials and oligarchs affected by individual sanctions.
“Today, more than 40 countries have imposed such sanctions. Taking a clear stand is important not only for us in Europe, but also for the rest of the world. Clearly opposing Putin’s chosen position on war. Clearly opposing the Holocaust A stand on the rights of civilians. And a clear stand against violations of the fundamental principles of the world order,” von der Leyen concluded in a brief statement that did not acknowledge the issue.