New EU sanctions package on Russia, what does it include?
2 Min Read
The Financial Times reports on the new sanctions package by the European Commission on Russia.
-
New EU sanctions package on Russia
The new EU sanctions package against Russia involves a ban on the broadcasting of four channels and the control over the export of dual-usage goods worth more than 2.3 billion euros ($2.4 billion), the Financial Times newspaper reported on Tuesday.
The sanctions package will also involve a ban on transactions with Russian marketing firms and market research firms, according to the newspaper.
EU to propose ban on investment in Russia's mining sector under new sanctions
The European Commission will propose a ban on new investments in the mining sector of Russia, the Financial Times newspaper said citing informed sources.
The ban will provide exemptions for certain products, the newspaper said.
The new package will also include a ban on transactions with three more Russian banks.
The Foreign Ministers of Estonia, Lithuania, and Poland welcomed on Saturday the oil price cap on Russian crude and called on the EU to hasten the process for the 9th round of sanctions against Russia, the Foreign Minister of Estonia Urmas Reinsalu said in a tweet on Saturday.
The ministers further said they welcomed EU President Ursula von Der Leyen's statement that the EU was expeditiously working on the next round of sanctions against Russia.
They hailed the agreement on the price cap on the basis that it is supposed to limit Russian oil revenues and mitigate adverse consequences on energy supply to third economies.
On Saturday, Kremlin Spokesperson Dmitry Preskov said the price cap that was imposed on Russian oil abroad is unacceptable for Russia, but Moscow will be analyzing it and deciding how to operate under the new circumstances.
