EU agrees on eighth package of anti-Russian sanctions

The European Union has agreed on the eighth package of sanctions against Russia, including sectoral and personal restrictions. This was said in a statement published on the website of the European Commission


EU agrees on eighth package of anti-Russian sanctions

According to the published material, the list of new anti-Russian restrictions includes:

– a ban on the transportation by sea of Russian oil to third countries at a price above the ceiling (currently undetermined) from December and of oil products from February 2023;

– a ban on imports of finished steel products, vehicles, machinery, chemicals and materials for the production of jewellery not made of gold

– a ban on the sale of electronic components that can be used to make weapons and technical products used in aviation to Russia

– a ban on the provision of legal, consulting and IT services to Russian companies;

– a restriction on access to cryptocurrency online wallets for Russian individuals and legal entities regardless of the amount deposited;

– expansion of the list of personal sanctions (persons not yet designated).

The cost of the total volume of restrictions is estimated at around seven billion euros. EU citizens are also prohibited from holding any positions “in the governing bodies of legal entities, organisations or structures owned or controlled by the Russian state”.