RT.com
20 Sep 2023, 01:44 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 Dublin News 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 Dublin News.
More InformationNEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
DUBLIN, Ireland: The High Court has heard that some parents of children with special needs may be forced to give up their jobs to care...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
DUBLIN, Ireland: Tánaiste Simon Harris has called on the United States to use every hour to reach a zero-for-zero tariff agreement...
DUBLIN, Ireland: A blind woman from Dublin says she was hurt while getting off a bus because the driver refused to pull in close to...
DUBLIN, Ireland: The Irish Nurses and Midwives Organisation (INMO) has warned that there could be a serious trolley crisis this summer...
ISTANBUL/PARIS/BRUSSELS: As searing temperatures blanket much of Europe, wildfires are erupting and evacuation orders are being issued...