The new package of sanctions against Russia that the European Commission has approved bans the importation of Russian gold and reinforces the control over the export of advanced technologies and goods that can be possibly used in more than one way, e.g., to support the war effort in Ukraine. The sanctions will now have to be approved by the member states represented in the European Council.
The list of individuals with ties to the Kremlin that will be sanctioned will also be expanded. The existing financial and economic sanctions will be more clearly defined. The European Commission has also recommended that the current sanctions are extended by six months, until a review at the end of January 2023.
Russia’s brutal war against Ukraine continues unabated.
Therefore we propose today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023.
Moscow must continue to pay a high price for its aggression.
— Ursula von der Leyen (@vonderleyen) July 15, 2022
The new sanctions will also be adjusted to better synchronise the EU sanctions with those of the bloc’s allies and partners, especially those belonging to the G7. As the European Commission stressed, the sanctions in no way apply to trade in agricultural produce between Russia and non-EU countries.
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