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EU plans consultations on new Russia sanctions package - Bloomberg

21 October, 2023 Saturday
12:37

The European Union will begin consultations with member states in the coming days on a new package of sanctions against Russia for the war in Ukraine

Bloomberg reports.

The new package, which will be the 12th since Russia's invasion, may include a ban on Russian diamonds, a further crack down on Moscow’s ability to get around sanctions and listing companies in third countries that are helping Moscow to do so, the sources said on condition of anonymity.

The EU is working with the G7 to create a mechanism that will allow it to track the movement of diamonds across borders, overcoming fears that any ban will simply redirect trade to other countries.

The EU is also expected to expand the list of banned goods that Russia can use for military purposes. The main focus of the EU and its allies has been to thwart the Kremlin's efforts to acquire a shorter list of critical goods needed to build and supply weapons, and as part of this effort, they have sought to exert diplomatic pressure on third countries that help Moscow.

 
  • On October 18, it was reported that the G7 countries would discuss four options for sanctions against Russian diamonds.


 
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