The French Presidency of the Council of the EU announced on twitter on Monday that the 4th package of sanctions against Russia was approved by the ambassadors of the EU countries (COREPER II), referring to a historic moment.
“In consultation with the EU’s international partners, the 4th package sanctions targets individuals and entities involved in the attack on Ukraine, as well as several sectors of the Russian economy. These measures will enter into force immediately as soon as they are published in the Official Journal of the European Union. “COREPER II also approved a statement to the World Trade Organization (WTO) on the suspension of Russia’s favorable membership status and the suspension of consideration of Belarus’ application to the WTO.”
According to sources quoted by Reuters, among the Russian oligarchs added to the “black list” of sanctions, is the name of billionaire Roman Abramovich, the owner of the English football team Chelsea.
It is recalled that on March 11, after the Versailles Summit, Commission President Ursula von der Leyen announced a “fourth package of measures to further isolate Russia and deplete the resources used to finance this barbaric war.” Ursula von der Leyen had announced a ban on exports of luxury goods to Russia, as well as a ban on exports of steel.
An Extraordinary EU-NATO Summit on the Russian invasion of Ukraine is scheduled to take place in the coming days, according to information provided by SKAI’s Brussels correspondent Giannis Paleologos.
The sanctions in detail as presented by the President of the Commission:
1. We deny Russia the status of the most favored nation in our markets, recalling significant benefits of the World Trade Organization.
“We will also work to suspend membership fees in multilateral financial institutions such as the IMF and the World Bank – so that there are no more loans or benefits from these institutions,” said Ursula von der Leyen.
2. We continue to put pressure on the Russian elites close to Putin.
3. We will make sure that the Russian state and its elites can not use encrypted assets to circumvent sanctions.
4. Prohibition of export of any EU luxury products from our countries to Russia (including caviar, vodka, etc.)
5. Prohibition of import of basic goods in the iron and steel sector by the Russian Federation.
????#Ukraine | Approved by COREPER II of a 4-pack of sanctions in concert with our international partners, which targets individuals and entities involved in aggression against Ukraine, as well as several sectors of the Russian economy.⤵️1 / 3 # PFUE2022
– French Presidency of the Council of the EU (@ Europe2022FR) March 14, 2022
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