RT.com
19 Sep 2023, 13:44 GMT+10
The new batch of restrictive measures is expected to be announced during the first half of October
The European Union is in the final stages of crafting its 12th set of Ukraine-related sanctions against Russia, as reported by Bloomberg on Monday, citing sources familiar with the ongoing discussions.
According to the news outlet, this forthcoming package of sanctions is expected to concentrate on further measures to hinder Russia's capacity to circumvent previously imposed restrictions, particularly its efforts to import sanctioned goods through intermediary countries, such as Türkiye and the UAE.
Sources claim that the EU's sanctions list may be expanded to align with the upcoming G7 ban on purchasing Russian diamonds, anticipated to be announced in the coming weeks. It envisions direct and indirect prohibitions on acquiring Russian diamonds starting from January 1.
Additionally, the new EU package is said to include a proposal regarding the potential utilization of profits generated by frozen assets belonging to the Central Bank of Russia. Discussions concerning the legality of seizing these assets to support Ukraine have been ongoing for months, with sources indicating that they may be nearing a resolution.
Furthermore, the European Commission is expected to propose implementing a windfall tax on the earnings generated by Russian central bank assets within EU clearing houses.
Certain member states, including Poland and the Baltic nations, have reportedly proposed additional restrictions on Russia's liquefied natural gas (LNG) exports and IT services. Specific details regarding these proposals remain undisclosed.
This group of states has also advocated for sanctions targeting Russia's nuclear industry. However, past efforts to sanction this sector have been waived, primarily because many countries, including many within the EU, depend on Russian atomic fuels.
The announcement of this new sanctions package is anticipated in either the first half of October or during an EU-US summit slated for the next month.
Since the commencement of Moscow's military operation in Ukraine in February of the previous year, the EU has implemented 11 sets of sanctions against Russia, targeting various sectors of the Russian economy and its financial institutions. Some member states have reportedly expressed concerns that there is not much left to sanction while urging Brussels to enforce existing restrictions effectively.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Philadelphia Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philadelphia Herald.
More InformationWASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...