The European Union gave the green light this Thursday to the fifth round of sanctions against Russia over its invasion of Ukraine, which includes the embargo against Ukraine. Russian coal importsIn restrictions responding to the massacre of civilians in cities on the outskirts of Kiev, such as Bucha.
Diplomatic sources confirm to Europa Press that 27 at ambassadorial level have given final approval for an agreement. “strong” package of measures It is the first place where sanctions against the Russian energy sector, in this case coal, were imposed.
Impact predicted 4,000 million euros per year For the Russian coffers, though the blow is relatively minor compared to the revenue from gas and oil, which for Moscow represents about 800 million a day, it is currently outside of sanctions.
In several meetings held this Wednesday and Thursday, the bloc countries finalized the agreement. technical details Sanctions outlining matters that raise doubts among Member States. The adoption will likely arrive Friday morning when the written procedure initiated by the ambassadors is complete.
This set of measures also expands restrictions on the Russian banking sector. four key banks Including the second largest VTB in the country, which Europe aims to weaken the Russian financial system through a penalty that will affect 23% of the market share in the Russian banking sector, according to Community Management.
Similarly, the EU will ban it. Entrance of Russian ships extends an already existing veto in the field of air transport to European ports. Exceptions to this sanction would include exports of agricultural products and food, humanitarian aid and essential services such as energy.
In addition, the package includes: restrictions on road transport operators Russia and Belarus, a measure that will “substantially” limit Russian industry’s access to certain goods.
The sanctions will damage the Russian economy by 10 billion euros and affect Russia’s exports in areas where it is most vulnerable, such as quantum computing, semiconductors, precision machinery and transportation equipment. “will reduce Russian technological capacity”, As detailed by Ursula Von der Leyen, chairman of the Community Steering Committee, when she proposed this package last Tuesday.
But that’s not all, the fifth package includes a ban on imports of certain products from Russia, such as wood, cement or liquor, in order to cut off the flow of money between Moscow and the Russian oligarchs, and covers a number of sectors mobilizing. €5.5 billion yearly.
Finally, 27 countries agreed to veto the general participation of Russian companies in Member States’ public procurement and the exclusion of all European or national financial support to Russian public institutions.
Next step
While Brussels does not currently recommend touching Russian gas or oil, due to the differences between 27, European Union Foreign Policy High Representative Josep Borrell has already suggested that the bloc’s foreign ministers will initiate the discussion. About new sanctions on Russian oil and gas at the Foreign Affairs Council next Monday.
“Sooner or later, I hope sooner or later that happens,” said the head of European diplomacy before joining the NATO ministry. These statements follow the line set by the President of the European Council Charles Michel in the European Parliament. oil and gas sanctions “Sooner or later they will be needed.”
It will be the sanction that will have the biggest impact on the Russian economy, but any further action will have to overcome the reluctance of several European partners. Germany and Austria They refused to cut off the Russian gas immediately and Hungary threatened to oppose any energy embargo.