EU mulls Russia export ban on cars worth over 50,000 euros

The EU is discussing a ban on exports of luxury vehicles worth more than 50,000 euros ($54,760) to Russia as part of its latest sanctions package, according to two diplomats familiar with the plan, Report informs referring to Bloomberg.

“The proposed ban… would apply to models from several European car brands, including Audi, BMW, Mercedes, Ferrari and Porsche. The EU measure would also include boats and planes, as well as chairlifts and motorbikes worth more than 5,000 euros,” the agency noted.

Many European carmakers have already voluntarily suspended sales to Russia.

The move is part of a broader fourth round of sanctions the EU is imposing because of Russia’s military actions in Ukraine.