EU hits Russia with new sanctions on luxury goods, metals and energy projects – POLITICO

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European Commission President Ursula von der Leyen, EU will order sanctions on Moscow on Saturday as Russia shows no sign of ending the war in Ukraine. speak Friday at the summit of EU leaders in Versailles.

“Tomorrow, we will implement the fourth package of measures to further isolate Russia and drain the resources it uses to finance this barbaric war,” von der Leyen said.

The new package of sanctions has yet to be announced, but the chairman of the Commission has outlined the key areas that will be affected.

We will ban the export of any EU luxury goods from our countries to Russia, as a direct blow to the Russian elite.

The bloc is also banning the import of “important products in the iron and steel sector” from Russia. The EU expects the move to cut off “billions of export revenue” from Russia.

Von der Leyen added that the EU is “ensuring that the Russian state and its elites cannot use crypto assets to circumvent sanctions” without providing details on how the EU intends to do so. so.

Finally, the EU “will propose a major ban on new European investments in the Russian energy sector.”

“This ban will cover all investments, technology transfers, financial services, etc., for energy exploration and production – and therefore have a major impact on Putin,” von der Leyen said. . New EU sanctions on the energy front are still missing moves by the UK, US and Canada to ban Russian oil imports.

This announcement comes as the G7 countries – EU, US, UK, Germany, France, Italy, Japan and Canada – swear that it would remove Russia’s trade privileges at the World Trade Organization and limit its ability to receive financing at the IMF and World Bank. EU hits Russia with new sanctions on luxury goods, metals and energy projects - POLITICO

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