Espreso. Global

EU to propose ban on 4 Russian TV channels and EUR 2.3 billion exports in new sanctions package 

7 December, 2022 Wednesday
03:44

As part of the 9th sanctions package against Russia, the European Commission plans to introduce a ban on new investments in the Russian mining sector

The Financial Times reported about it on Tuesday, December 6.

According to the Organization for Economic Cooperation and Development, the mining sector of Russia - a global producer of gold, iron ore, uranium and phosphates - accounted for a quarter of foreign investments before the start of the full-scale war in Ukraine.

The specific nature of the ban on investments in the Russian mining industry is still being determined and, according to the FT's source, is likely to contain exceptions for certain commodities - for example, titanium and palladium, where Russia is a critical supplier.

Also, according to the media, the proposal for the ninth package of EU sanctions against Russia includes: ban on broadcasting of four Russian TV channels;

export control over dual-purpose products worth more than EUR 2.3 billion, which the Russian Federation can use for the production of weapons;

ban on transactions with three Russian banks; sanctions against 180 individuals and legal entities from Russia;

ban on cooperation with Russian marketing and research companies.

It is expected that the package of sanctions will be discussed by the permanent representatives of the EU member states this week and may be approved at the summit of the European Union leaders on December 15.

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