Russia: EU, US and G7 hold new sanctions against Moscow
One year after the start of the Russian offensive in Ukraine, EU member states agreed on a10th sanctions packageto try to impact even more severely the Russian economy as well as Iranian companies accused of supporting the invasion of Ukraine. The G7 and the United States have also introduced new measures.
These restrictions apply to:
- export of dual-use technologies and goods,
- persons and entities supporting war, spreading propaganda or delivering wreaths to Russia,
- persons involved in child abduction in Ukraine,
- an expanded list of banks excluded from the SWIFT system for international payments,
- a freeze on assets and travel bans for persons or entities associated with the Wagner Group.
The EU has also adopted sanctions against:
- theBelarusin response to his involvement in the invasion of Ukraine,
- IIranbecause of the manufacture and supply of drones to Russia.
The new package coversEUR 11.4 billionthe EU and Russia (values 2021), according to the European Commission. Brussels now displaysa ban on half its exportsto pre-war Russia and in total58 % concerning imports.
On his side,Washington has introduced additional tariffson certain products related to thechemistryand to theMetallurgywhile increasing the cost of entering its territoryaluminiumsunk in Russia.
The G7 also aims to prevent Russia from finding new ways to acquire state-of-the-art military and industrial equipment, technologies and equipment from their countries. The precious stones exported from the former Soviet bloc, source of large profits for Russia, are also in the sight of the allies.
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