Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population.
We need to sustain utmost pressure at this critical point.
So today we are proposing a 5th package of sanctions.
1 – An import ban on coal from Russia, worth €4 billion per year, cutting another important revenue source for Russia.
2 – A full transaction ban on 4 key Russian banks, among them VTB, the 2nd largest Russian bank.
3 – A ban on Russian & Russian operated vessels from accessing EU ports and a ban on Russian and Belarusian road transport operators.
4 – Further export bans, worth €10 billion, in crucial areas: advanced semiconductors, machinery and transport equipment
5 – Specific new import bans, worth €5.5 billion euros.
6 – Targeted measures, such as a ban on participation of Russian companies in public procurement in 🇪🇺 and exclusion of all financial support, EU or national to Russian public bodies.
Finally, we are also proposing further listings of individuals.
We are also working on additional sanctions, including on oil imports, and reflecting on some of the ideas of the Member States, like taxes or specific payment channels such as an escrow account.
Today over 40 countries apply sanctions like these.
To take a clear stand is crucial for the whole world.
A clear stand against Putin’s war of choice.
Against the massacre of civilians.
Against the violation of the fundamental principles of the world order.
Slava Ukrainje
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As Russia’s ruthless invasion continues, the EU and our G7 partners continue to ramp up the economic pressure on the Kremlin.
Tomorrow, we will introduce a fourth package of measures to further isolate Russia and drain the resources it uses to finance this barbaric war ↓
We will:
1. Deny Russia the status of Most-Favored Nation in our markets, revoking important WTO benefits.
We’ll also work to suspend its membership rights in multilateral financial institutions like the IMF & World Bank – so no more loans or benefits from these institutions.
2. Continue pressuring Russian elites close to Putin.
3. Make sure that the Russian state and its elites cannot use crypto assets, to circumvent the sanctions.
4. Ban the export of any EU luxury goods from our countries to Russia.