The European Commission has agreed on a fifth package of restrictive measures against the Putin regime in response to its brutal aggression against Ukraine and its people. These measures are more comprehensive and more severe. The measures are designed to intervene even more deeply in the Russian economy.
The measures contain the following six elements:
1. coal ban
2. financial measures
3. transport
4. targeted export bans
5. extension of import bans
6. exclusion of Russia from public contracts and European funds
Examples of recent EU measures against Russia:
A ban on imports of all types of Russian coal: This affects a quarter of all Russian coal exports, which means a loss of revenue for Russia of around €8 billion per year.
Further targeted export bans - worth €10 billion - in areas where Russia is vulnerable due to its high dependence on EU supplies. These include, for example, quantum computers, advanced semiconductors, sensitive machinery, transport equipment and chemicals. They also include special catalysts for the refining industry.
Other import bans - worth €5.5 billion - include cement, rubber products, timber, spirits (including vodka), liqueurs, high-value seafood (including caviar) and a circumvention measure against potassium chloride imports from Belarus.
In addition, further persons and institutions were sanctioned.
On 5 April, the EU Commission also published a guide for EU member states on the screening of foreign direct investment from Russia and Belarus.
Links:
Ukraine: EU agrees fifth package of restrictive measures against Russia
Guidance to the Member States concerning foreign direct investment from Russia and Belarus
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