The Council of the European Union today imposed a fifth package of economic and individual sanctions against Russia, including an embargo on Russian coal, a ban on Russian-flagged ships docking at EU ports and a ban on Russian and Belarusian road haulage.
“These latest sanctions were adopted following the atrocities committed by Russian armed forces in Bucha and other places under Russian occupation. The aim of our sanctions is to stop the reckless, inhuman and aggressive behaviour of the Russian troops and make clear to the decision makers in the Kremlin that their illegal aggression comes at a heavy cost,” said EU High Representative Josep Borrell.
The package comprises:
Furthermore, the EU decided to sanction companies whose products or technology have played a role in the invasion, key oligarchs and businesspeople, high-ranking Kremlin officials, proponents of disinformation and information manipulation, systematically spreading the Kremlin’s narrative on Russia’s war aggression in Ukraine, as well as family members of already sanctioned individuals, in order to make sure that EU sanctions are not circumvented.
Moreover a full transaction ban is imposed on four key Russian banks representing 23% of market share in the Russian banking sector. After being de-SWIFTed, these banks will now be subject to an asset freeze, thereby being completely cut off from EU markets.
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