The European Commission on Friday issued a statement announcing that a new package of sanctions against Russia has been proposed, should be approved will be effective after January next year.
Ursula von der Leyen, President of the European Commission, said: “Russia’s brutal war against Ukraine continues unabated. Therefore, we are proposing today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023. Moscow must continue to pay a high price for its aggression.”
“Today’s package will introduce a new import ban on Russian gold while reinforcing our dual use and advanced technology export controls. In doing so, it will reinforce the alignment of EU sanctions with those of our G7 partners. It will also strengthen reporting requirements to tighten EU asset freezes,” read the statement.
“The package also reiterates that EU sanctions do not target in any way the trade in agricultural products between third countries and Russia. Likewise, the text clarifies the exact scope of some financial and economic sanctions,” the statement added.
“Finally, it is proposed to extend the current EU sanctions for six months, until the next review at the end of January 2023,” said the EU.
The decision is expected to be approved by the EU Council, scheduled for late July.
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