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Sunday, February 5, 2023

New EU sanctions against Russia in effect from Thursday


To: 07/20/2022 20:08

With the new EU sanctions, for example, gold can no longer be imported from Russia. Exports of goods that can be used for military purposes must be more strictly controlled. The rules will come into effect on Thursday.

New EU sanctions against Russia are due to come into force on Thursday. The so-called written decision-making procedure was launched in Brussels – it is usually only launched if no EU member has any further objections.

The ban on importing Russian gold is new. But its effectiveness is questioned. Although Russia is the second largest producer of gold in the world, as an export good and therefore as a source of foreign exchange, it plays a secondary role for the country.

Export controls for advanced technology

Some existing sanctions need to be strengthened: export controls on advanced technologies and goods that can be used for civilian and military purposes need to be strengthened. Sanctions against Russia’s Sberbank should also be tightened.

In the future, it will be one of the banks whose funds and economic resources can be frozen. Exceptions should apply only to transactions related to trade in food and agricultural products. Sberbank has been excluded from the SWIFT international financial communication network since the beginning of June.

Entry ban for “night wolves”

Other Russian individuals must also be sanctioned. Among them are members of the nationalist rock gang “Night Wolves” and actor Vladimir Mashkov. They are then no longer allowed to enter the EU and must expect their assets to be frozen.

Apparently easier negotiations

Unlike negotiations over the last sanctions package, which had been delayed for weeks due to objections from Hungary, things moved quickly this time. German Ambassador to the EU Michael Clauss said: “The rapid and consensual progress shows once again that the EU is united and determined to provide effective support to Ukraine.”


Source www.tagesschau.de

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