EU announces 5th package of sanctions areas

European Commission President Ursula von der Leyen announced the areas to be covered by the fifth package of EU sanctions against Russia.

"Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population. We need to sustain utmost pressure at this critical point. So today, we are proposing the 5th package of sanctions.

"1-An import ban on coal from Russia, worth €4 billion per year, cutting another important revenue source for Russia. 2-A full transaction ban on four key Russian banks, among them VTB, the 2nd largest Russian bank. 3- A ban on Russian and Russian-operated vessels from accessing EU ports and a ban on Russian and Belarusian road transport operators. 4- Further export bans, worth €10 billion, in crucial areas: advanced semiconductors, machinery, and transport equipment. 5-Specific new import bans worth €5.5 billion euros. 6- Targeted measures, such as a ban on participation of Russian companies in public procurement in and exclusion of all financial support, EU or national to Russian public bodies," she tweeted.