The European Union on Tuesday adopted the fourth round of sanctions against Russia, banning the export of luxury goods and import of steel products, as well as targeting new oligarchs, APA reports citing Anadolu Agency.
The EU imposed a new set of sanctions against Russia “in response to its brutal aggression against Ukraine and its people,” the European Commission announced in a statement welcoming the decision of EU member states.
“These sanctions will further contribute to ramping up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine,” the statement added.
With the decision, the bloc bans the import of Russian steel products, amounting to approximately €3.3 billion ($3.6 billion) and the investment in the Russian energy sector.
The bloc also prohibits the export of luxury products to Russia, including jewelry, cars, leather suitcases, wines, and music and sports equipment.
The EU also added new oligarch and business elites linked to the Kremlin, as well defense industry companies that support the war in Ukraine.
The decision also extends the financial sanctions, banning all transactions of Russian state-owned companies.
The full list of sanctioned individuals and entities has yet to be published in the EU Official Journal, but several media sources confirmed that they will target, among others, businessman Roman Abramovich, who has owned the Chelsea football club, and industrialist Oleg Deripaska.
14.03/ 23:09
Ambassadors of the EU member-states approved the next passage of sanctions against Russia that will come into force after the publication in the EU Official Journal, French presidency in the EU tweeted on Monday, APA reports.
"The Committee of Permanent Representatives of the EU countries (Coreper) in coordination with international partners agreed the fourth package of sanctions aimed against individuals and legal entities involved in the aggression against Ukraine and against certain sectors of the Russian economy," the presidency stated.
The new package of restrictive measures will come into force after the publication of the decision in the Official Journal of the EU.
EU ambassadors also agreed upon a joint address to the World Trade Organization (WTO) against the Russian status and admission of Belarus, the French presidency noted.
"The Committee of Permanent Representatives of the EU countries (Coreper) approved the address to WTO in the context of the aggression of Russia against Ukraine. It pertains to suspension of the most favored nation’s status for Russia and suspension of reviewing the application of Belarus on admission to WTO," the presidency tweeted.
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