the European Union imposes new sanctions on Russia after the annexations of Ukrainian territories

The European Union (EU) has imposed new trade restrictions on Russia and expanded the list of people subject to asset freezes and EU travel bans, as part of an eighth sanctions package against Moscow entered into force Thursday, October 6.

These new measures, published in the Official Journal of the EU, are a “response to Russia’s escalation in its continued illegal war on Ukraine, including the annexation of Ukrainian territory after sham ‘referendums’, the mobilization of additional troops and the openly brandished threat of nuclear weapons”, says the European Commission. They also prepare for the implementation of the Russian oil price cap agreed by the G7, and provide for a ban on EU nationals holding positions in the management bodies of certain Russian state-owned companies. .

This set of EU sanctions, the 8th since the war launched by Moscow in Ukraine on February 24, introduces 7 billion euros in new import bans, in order to reduce Russia’s income. They include, in particular, an embargo on imports of iron and steel products, machinery and appliances, plastics, vehicles, textiles, footwear, leather, ceramics, certain chemicals and non-gold jewelery .

The new export restrictions are aimed at reducing Russia’s ability to develop its defense and security sector. They concern in particular “the ban on the export of coal, including coking coal (used in Russian industrial sites), certain specific electronic components (present in Russian weapons), technical items used in the aviation sector, as well than certain chemicals”further specifies the European executive.