The sanctions include a ban on Russian coal imports, a total ban on the transactions of four major Russian banks, a ban on Russian ships and Russian-operated ships in EU ports, except for food, agriculture, humanitarian or energy aid, import bans on timber, cement, seafood and alcoholic beverages, as well as export bans for high – tech semiconductors.
Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population.
We need to sustain utmost pressure at this critical point.
So today we are proposing a 5th package of sanctions. pic.twitter.com/GEuPQf0Wgr
– Ursula von der Leyen (@vonderleyen) April 5, 2022
“The fifth package of sanctions contains six pillars. First of all, we will impose a ban on coal imports from Russia, amounting to 4 billion euros per year, thus reducing another important source of revenue for Russia, “von der Leyen said, according to EC data.
“Second, the total ban on transactions with four key Russian banks, including VTB, Russia’s second-largest bank. These four banks, whose contact with the markets is completely canceled, represent 23% of the market share in the Russian banking sector. This will further weaken Russia’s financial system, “he said.
“Thirdly, the ban on the entry of Russian ships and Russian-operated ships into EU ports. Certain exemptions will cover essentials, such as agricultural and food products, humanitarian aid, and energy. In addition, we will propose a ban on road transport operators in Russia and Belarus. This ban will drastically limit the options for Russian industry to obtain key goods, “said the EU chief executive.
“Fourth, additional 10 billion euros in export bans in areas where Russia is vulnerable. These include, for example, high-tech quantum computers and semiconductors (…). We will thus continue to destroy Russia’s technological base and industrial capacity, “the source said.
“Fifth: new 5.5 billion euro specific import bans to reduce the cash flow of Russia and its oligarchs for wood-cement products, from seafood to alcoholic beverages . That is how we end the subterfuge between Russia and Belarus, “he said.
“Sixth: We are taking a number of targeted measures, such as a general EU ban on the participation of Russian companies in public procurement in the Member States or the exclusion of any financial support, whether European or national, for Russian public bodies. Because European tax money should not go to Russia in any form, “said von der Leyen.
“Finally, we propose additional lists of people, which the High Representative of the Union for Foreign Affairs and Security Policy, Josep Borrell, will explain,” the source said.
“We are working on additional sanctions, including on oil imports, and we are reflecting on ideas put forward by Member States, such as specific taxes or payment channels, such as an escrow account. Today, more than 40 countries apply such sanctions. Taking a clear stand is not only crucial for us in Europe, but also for the rest of the world. A clear stance against Putin’s war. A clear position against the massacre of civilians. And a clear position against violating the fundamental principles of world order. Glory to Ukraine, “concluded the President of the Commission.
On Monday, Von der Leyen offered his condolences to President Zelenski and assured him of the European Commission’s full support in these “terrible times”.
“The EU has set up a joint investigation team with Ukraine to gather evidence and investigate war crimes and crimes against humanity in Ukraine,” the European official said.
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