European Commission proposes new package of sanctions against Russia

The European Commission proposed new import bans on Russian products, depriving the Russian economy of €7 billion in revenues, Ursula von der Leyen, President of the European Commission, said in a briefing in Brussels, Report informs.

“We propose new import bans on Russian products, depriving the Russian economy of €7 billion in revenues. More products that cannot be exported to Russia, in particular key technologies needed for its war machine,” she stressed.

The EU adds a new category to be able to list individuals if they circumvent our sanctions. The package also includes a legal basis for an oil price cap: “Some developing countries still need some Russian oil supplies, at low prices. This cap will help reduce Russia’s revenues and keep global energy markets stable.”