EU to expand sanctions, announce embargo on several goods from Russia

The EU is expanding sanctions against Russia due to hostilities in Ukraine, Report informs referring to Reuters.

Thus, the European Commission is to propose on April 5 to EU nations sweeping new sanctions against Russia, including a ban on imports of coal, rubber, chemicals and other products from Russia worth up to 9 billion euros ($9.86 billion) a year.

The EU is also proposing to ban exports to Russia worth another 10 billion euros a year, including semiconductors, computers, technology for LNG gas and other electrical and transport equipment.

Russian vessels and trucks will also be prevented from accessing the EU, further crippling trade with Russia, the source said, adding that exceptions will be made for energy products, food and medicines.

The EU will also ban all transactions with VTB and another three Russian banks which had already been excluded from the SWIFT messaging system.

Dozens more individuals, including oligarchs and politicians, will be added to the EU sanction list.