EU agrees eighth sanctions package against Russia
The Council of the EU said on October 6 that it decided to impose a new package of economic and individual sanctions against Russia.
The latest sanctions package comes in response to “Russia’s escalating war of aggression against Ukraine and the illegal annexation of Ukraine’s Donetsk, Luhansk, Zaporizhzhia and Kherson regions,” the Council said in a statement.
The package, proposed by the European Commission on September 28, introduces a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.
In effect, it bans exports of Russian crude oil and petroleum products by sea and assistance services to such exports unless they are purchased at or below a pre-established price cap.
The statement did not give details on the price cap itself or the date when the Council will decide on its size. It said that the sanctions on crude oil would go into force in December and those on petroleum products in February 2023.
Additionally, the EU was extending the import ban on steel products that either originate in Russia or are exported from Russia, as well as imposing import restrictions on wood pulp and paper, cigarettes, plastics and cosmetics, as well as elements used in the jewellery industry.
The package included the sanctioning of individuals and entities that have “played a role in the organisation of illegal ‘referenda’, representatives of the defence sector, and well-known persons spreading disinformation about the war,” the statement said.
It expanded on the list of restricted items that may contribute to Russia’s military and technological enhancement or the development of its defence and security sector and added a prohibition to “sell, supply, transfer or export civilian firearms and their essential components and ammunition, military vehicles and equipment, paramilitary equipment, and spare parts.”
Also prohibited were the provision of crypto-asset wallet, account or custody services, architectural and engineering services, as well as IT consultancy services and legal advisory services.
Following Russia’s unrecognised decision to annex four Ukrainian regions, the geographical scope of EU sanctions was extended to include areas of the Zaporizhzhia and Kherson districts controlled by Russian forces, in addition to the Donetsk and Luhansk districts, which were already subject to an import ban on goods.
(Oil tanker crossing the Bosphorus strait in Turkey, photo: alumbis/flickr.com)
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