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Ports, oligarch families, trust funds – POLITICO

According to several diplomats, EU members have started discussing a possible new sanctions package to punish Russia for its invasion of Ukraine.

Among the targets considered: ports, oligarch families and trust funds.

The potential new sanctions were discussed on Thursday at a meeting of the Political and Security Committee, a body of the Council of the EU that deals with security and defense.

Some diplomats wanted these targets to be included in the EU’s latest sanctions package, and others raised the possibility of expanding measures that banned several Russian banks from the international SWIFT payment network. But there are also diplomats who object, arguing that before adding more banks to the sanctions list, the EU should first wait for the 10-day grace period of the SWIFT ban to see how effective it is. SWIFT allows Russia to easily conduct international business.

As of Thursday, talks about a new sanctions package were still in the early stages. Some diplomats stressed that the issue will depend heavily on how the war unfolds in the coming days.

In Paris, French officials expressed their desire to move forward with additional penalties.

France is ready to “tighten sanctions,” an Elysée official told reporters after a phone call between French President Emmanuel Macron and Russian President Vladimir Putin.

“We have yet to evaluate those that we have already put in place and we will add to them,” the official added, noting that Putin gave Macron the impression that the worst in Ukraine was yet to come.

The European Commission could decide to put a new package of sanctions on the table at a meeting of EU foreign ministers on Friday.

Also attending the meeting will be US Secretary of State Antony Blinken, British Foreign Secretary Liz Truss and Ukrainian Foreign Minister Dmytro Kuleba.

The EU ministers could agree on a new round of penalties on the fringes of the meeting.

https://www.politico.eu/article/eu-next-possible-russia-targets-ports-oligarch-families-trust-funds/?utm_source=RSS_Feed&utm_medium=RSS&utm_campaign=RSS_Syndication Ports, oligarch families, trust funds – POLITICO

Fry Electronics Team

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