European Union flags fly outside the European Commission headquarters in Brussels, Belgium on June 17, 2022. REUTERS / Yves Herman
BRUSSELS, Jul 15 (Reuters) – The European Commission will adopt the seventh package of sanctions against Russia on Friday, which will add a ban on Russian gold imports and amend existing restrictive measures to avoid hindering food exports, two officials said. Reuters.
The new measures are considered “a maintenance and alignment package,” one of the officials said, calling it a “sixth and a half” in sanctions due to its limited scope compared to previous rounds of Russian oil or coal.
However, some measures could have a serious impact on the sectors concerned.
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The draft package includes a ban on imports of Russian gold into the EU, a proposal first reported by Reuters in June and which would come into effect with the adoption of the new sanctions. This may interest you : During the Conflict, Ukrainian Traders Make War Their Trade. Read more
The European Commission is expected to adopt the new measures later on Friday, said the two people who refused to be named. EU envoys will discuss the new package next week for final approval before the summer break.
A source said Russian gold imports via third countries would also be affected, but did not explain how it would work.
Brussels will also tighten existing measures, with new limits on imports of goods that could be used for military purposes, including chemicals and machinery, the source said.
New individuals and entities deemed to be close to the Kremlin will also be added to the EU blacklist calling for their assets freezing and travel bans, according to the two sources and another EU official.
The Commission will also amend existing sanctions to make sure they do not affect Russian food and grain exports, the three officials said.
African countries said EU sanctions have contributed to the ongoing food crisis, mainly caused by the war in Ukraine and the Russian blockade of Ukrainian ports from where cereals are usually exported to the world.
The EU has long denied that its sanctions affected food trade. The proposed changes are intended to make sure the rules are not misinterpreted by traders, including banning Russian ships from entering EU ports, an official said.
Under this measure, Russian ships can already enter EU ports if they are carrying food or medicine.
But some traders have shunned food exported from Russian ports which are indirectly owned by Russian state-owned companies that have been sanctioned by Brussels. The new package will make it clear that these ports are exempt from sanctions, the source said.
The Commission should also reinforce the existing ban on Russian ships from entering EU ports to prevent them from circumventing sanctions by offloading their cargoes to external piers, the source said. To this end, the definition of ports needs to be extended.
A ban on offering Western cloud services to Russian customers, initially considered for the new package, is pending for future rounds as the measure is now coordinated with the United States and Britain, whose companies dominate the industry, said the officer.
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Reported by Francesco Guarascio @fraguarascio; additional reporting by John Chalmers; Editing by Hugh Lawson and Tomasz Janowski
Our Standards: Thomson Reuters Trust Principles. Read also : Second Statement on Russia War Against Ukraine & International Sports – US Department of State.
What does G stand for in G7?
The Group of Seven (G7) is an intergovernmental political forum made up of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. This may interest you : Secretary Antony J. Blinken at Press Availability – United States Department of State.
Is it G7 or G7? The US Department of the Treasury engages with the Group of 7 (G7) and Group of 20 (G20) on a variety of economic development and international security issues.
Why is it called G7 instead of G8?
Russia has been added to the political forum since 1997, which the following year became known as the G8. In March 2014, Russia was indefinitely suspended following the annexation of Crimea, after which the name of the political forum was reverted to G7. In January 2017, Russia announced its definitive withdrawal from the G8.
What does the G stand for in G7 and G20?
The Group of Seven (G7) and the Group of Twenty (G20) are informal governance clubs, which organize annual Summits of Heads of State to discuss issues of global importance.
Which Russian banks are sanctioned?
The 18 entities designated under the latest sanctions round are: Alfa-Bank, Bank Rossiya, Bank Otkritie, Black Sea Bank for Development and Reconstruction, Central Bank of the Russian Federation, Credit Bank of Moscow, Gazprombank, GenBank, Industrial Savings Bank, Novikombank, Russia Agricultural Bank, Russian …
Which Russian banks have SWIFT removed? STRASBOURG, May 4 (Reuters) – The European Commission proposed Wednesday to remove the largest Russian bank Sberbank (SBMX.MM) and two other banks from the international SWIFT messaging and transaction system in another blow to the Russian financial system for the war. in Ukraine .
Which Russian banks are sanctioned by us?
Total blocking sanctions against the largest Russian financial institution, Sberbank, and the largest Russian private bank, Alfa Bank. This action will freeze all Sberbank and Alfa Bank assets that affect the US financial system and prohibit US people from doing business with them.
Is Russian Sberbank under sanctions?
The Treasury is imposing full blocking sanctions on Sberbank, Russia’s largest state-owned bank, and on Alfa-Bank, Russia’s largest private bank.
Is Bank of America doing business in Russia?
Major US and European investment banks operating in Russia include Goldman Sachs, Morgan Stanley, Bank of America Merrill Lynch, JPMorgan, Barclay’s, Deutsche Bank and UBS.
Which countries put sanctions on Russia?
The United States, Canada, the European Union and other European countries (including Ukraine) have imposed economic sanctions specifically targeting Crimea.
How many countries have imposed sanctions on Russia? These actions will collectively increase the pressure on Putin and build on the unprecedented package of economic sanctions and export controls that the US and over 30 countries have already imposed on Russia.
Which countries are facing sanctions?
| Village | Year introduced | Item |
|---|---|---|
| Cuba | 1958 | United States embargo against Cuba |
| Iran | 1979 (suppressed in 1981), reintroduced in 1987 | US sanctions against Iran |
| Syria | 1986 | Syria-United States |
| Venezuela | 2019 | International sanctions during the Venezuelan crisis |
Are there any sanctions on Russia?
As part of this effort, the United States is announcing devastating economic measures to ban new investments in Russia and impose the toughest financial sanctions on Russia’s largest bank and many of its most critical state-owned enterprises and Russian government officials and their members. of the family.
Who put sanctions on Russia 2022?
After the Russian invasion of Ukraine in February 2022, the United States, the European Union and other countries introduced or significantly expanded sanctions to include Vladimir Putin and other members of the government and cut SWIFT’s “selected Russian banks”, triggering 2022 Russian financial crisis and …
