Since the beginning of this week at the latest, another sanctions package against Russia has been discussed and prepared at EU level. The European Commission proposes to include the following elements:
1. an import ban on coal (worth €4 billion annually);
2. a complete transaction ban on 4 Russian banks, including VTB (these 4 banks represent 23% of the market share in the Russian banking sector);
3. a ban on Russian and Russian-operated vessels calling at EU ports (food, agricultural and humanitarian exemptions apply) and a ban on Russian and Belarusian road transport companies;
4. targeted export bans (worth €10 billion) on high-tech sectors (including quantum computers, semiconductors, machinery and transport equipment);
5. new import bans on timber, cement, seafood and spirits (worth €5.5 billion);
6. measures to exclude Russian bidders from public tenders and from access to financial assistance;
7. new additions to the sanctions lists;
8. considerations are being made, according to the EU Commission's press release, on additional sanctions, for example also for oil imports, and some ideas put forward by member states, such as taxes or special payment channels (setting up escrow accounts).
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Press statement by President von der Leyen on the fifth round of sanctions against Russia
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