Espreso. Global

EU will announce new sanctions against Russia

1 November, 2023 Wednesday
15:32

The European Union is considering a new, 12th draft of a restrictive package against Russia that will be announced to member states next week

Bloomberg reports the information. 

It is noted that the new sanctions will affect Russian trade by about €5 billion.

"The bloc’s 12th package since Russia launched its invasion last year will tighten restrictions on Moscow’s revenue sources and industry and curtail the Kremlin’s ability to feed its war machine," Bloomberg writes. 

Previous restrictions have affected huge segments of the Russian economy. Therefore, European lawmakers only need to fill in the gaps with targeted measures and tighten existing sanctions.

The news was first reported by Radio Liberty journalist Rikard Jozwiak on X Social Media.

According to Jozwiak, a proposal for the 12th round of EU sanctions against Russia will be submitted next week.

“Anti-circumvention, dual-use goods and a ban on Russian diamonds form large parts of the package”, he added. 

  • On October 26, news broke that the G7 countries would announce a mechanism to restrict imports of Russian diamonds by the end of October, after which the European Union would immediately finalize a proposal for the 12th package of sanctions against Russia.

  • An Espreso correspondent reported that the summit of EU leaders will discuss strengthening sanctions against Russia. The 12th package of sanctions will include Russian diamonds, Russian aluminum, and dual-use goods.

  • On October 27, European Commission President Ursula von der Leyen said that the European Union was preparing the 12th package of sanctions against Russia.

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