European Union member states backed a fresh package of sanctions targeting Russia for its invasion of Ukraine, including measures aimed at countering sanctions circumvention and individual listings.
(Bloomberg) — European Union member states backed a fresh package of sanctions targeting Russia for its invasion of Ukraine, including measures aimed at countering sanctions circumvention and individual listings.Â
The 11th set of EU measures since President Vladimir Putin started his war includes a ban on many goods from transiting through Russia and a new tool to crack down on third countries who are not doing enough to stop Moscow evading the bloc’s sanctions. Sweden, which holds the EU’s rotating six-monthly presidency, announced the deal on Twitter.
The main aim is to tighten loopholes and tackle circumvention. That relates especially to Moscow’s ability to source banned technologies — via states such as the United Arab Emirates, Armenia, Kazakhstan and others in central Asia — that end up in Russian weapons on the battlefield in Ukraine.
The new mechanism provides EU nations with powers to restrict key exports to targeted third countries if diplomatic efforts to deter them fail. Its scope was watered down during weeks of negotiations between envoys, according to the latest draft, to the extent that some officials worry the bar to using it is now too high.
The package was approved by EU ambassadors, and that decision now needs to be formally signed off by the bloc’s capitals before the measures are formally adopted and come into force. Some final details could still change during that process, which should see the measures come into force Friday.
The EU dropped plans to restrict trade with five Chinese companies that allegedly supplied banned technologies to Russian firms following assurances from Beijing that the issue would be resolved, according to the latest draft. Three Hong Kong-based companies allegedly controlled by Russia are listed.
Proposals to stop ships carrying banned goods from entering EU ports were also all but scrapped, the draft showed. The new measures do include a formal end to oil deliveries through the northern leg of the Druzhba pipeline and restrictions on vessels that switch off their navigation systems.
Member states agreed to widen existing bans on cars and other vehicles, as well as on high-end technologies used by Russia in Ukraine, industrial goods, and iron and steel and processed products that use the sanctioned metals, the draft showed. Prohibitions on goods will also extend to intellectual property rights and licenses issued to produce those items.
Dozens more individuals and entities will be added to the sanctions lists.
–With assistance from Kevin Whitelaw.
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