EU summit - EU states agree on Russia sanctions
The EU member states have agreed on a new package of sanctions against Russia. This was confirmed by a spokesperson for EU Council President Charles Michel on the sidelines of the EU summit in Brussels.
The package provides for the introduction of an import ban on diamonds and a tightening of the price cap on Russian oil exports to third countries, which has hardly had any effect recently. Trade restrictions are also planned for other goods as well as punitive measures against individuals and organizations that support the Russian war of aggression against Ukraine.
The agreement was reached during the EU summit. It is now to be formalized in a written procedure by tomorrow.
Belgium had previously prevented an import ban in the EU
Unlike the UK, the EU has not yet imposed an import ban on diamonds from Russia. For a long time, this was mainly due to resistance from Belgium, where the Flemish port city of Antwerp has been one of the most important diamond centers in the world since the 16th century. Russia, in turn, is considered the world's largest producer of rough diamonds. In 2021, the state diamond miner Alrosa had revenues of 332 billion rubles (around 3.41 billion euros).
In addition to the economic sanctions, according to EU information, sanctions are planned against more than 100 other individuals and organizations that support the Russian war of aggression against Ukraine. They would then no longer be able to dispose of assets held in the EU. The individuals concerned would also no longer be allowed to enter the EU. They are to come from the Russian military, defense and IT sectors, for example.
The last sanctions package to date came into force in June. It included, for example, an instrument to prevent the circumvention of sanctions that had already been imposed. A far-reaching ban on imports of crude oil, coal, steel, gold and luxury goods as well as punitive measures against banks and financial institutions have been in place for some time.
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- The EU member states have decided to impose sanctions on individuals and organizations supporting Russia's war of aggression against Ukraine, following the EU summit in Brussels.
- The EU's new sanctions package includes an import ban on diamonds from Russia and a tightening of the price cap on Russian oil exports.
- Despite being one of the world's largest diamond producers, Russia has not yet seen an EU-wide import ban on diamonds, due to Belgium's previous resistance.
- The package also includes trade restrictions and punitive measures against more than 100 individuals and organizations, many of whom are from the Russian military, defense, and IT sectors.
- EU Council President Charles Michel confirmed the agreement on Russia sanctions during the EU summit, mentioning a written procedure to formalize the agreement by the following day.
- The latest round of sanctions came into effect in June and include a far-reaching ban on imports of crude oil, coal, steel, gold, luxury goods, and measures against banks and financial institutions.
- The EU has been imposing sanctions on Russia since its annexation of Crimea in 2014 and accuses Russia of aggression against Ukraine, a position that Brussels and other Western leaders continue to stand behind.
Source: www.stern.de
