European Commission adopts new package of measures to reinforce impact of sanctions against Russia

Published in World
Monday, 18 July 2022 13:05

The European Commission today adopted a proposal for a new package of measures to maintain and strengthen the effectiveness of the EU’s six wide-ranging and unprecedented packages of sanctions against Russia.

Today’s “maintenance and alignment” package clarifies a number of provisions to strengthen legal certainty for operators and enforcement by Member States. It also further aligns the EU’s sanctions with those of its allies and partners, in particular in the G7. Importantly, the package reiterates the Commission’s determined stance to protect food security around the globe. The measures also include a ban on the import of Russian gold.

Ursula von der Leyen, President of the European Commission, said: “Russia’s brutal war against Ukraine continues unabated. Therefore, we are proposing today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023. Moscow must continue to pay a high price for its aggression.”

EU High Representative Josep Borrell added: “Today’s package reflects our coordinated approach with international partners including the G7. In addition to these measures, I will also present proposals to Council for the listing of more individuals and entities, with their assets frozen and ability to travel curtailed.”

Today’s package will introduce a new import ban on Russian gold, while reinforcing dual use and advanced technology export controls. In doing so, it will reinforce the alignment of EU sanctions with those of the G7 partners. It will also strengthen reporting requirements to tighten EU asset freezes.

The package also reiterates that EU sanctions do not target in any way the trade in agricultural products between third countries and Russia. Likewise, the text clarifies the exact scope of some financial and economic sanctions.  

Finally, it is proposed to extend the current EU sanctions for six months, until the next review at the end of January 2023.

The package will now be discussed by Member States in the Council in view of its adoption.

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