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European Union Approves 12 Sanctions Against Russia, Including Diamond Industry Ban and Tightened Oil Prices

Yesterday, the European Union approved a package of 12 sanctions against Russia, as announced by the member states of the bloc.

Brussels announced that the new round of sanctions against Moscow targets the diamond industry and more than 140 officials and entities, and closes the loopholes that Russia used to bypass previous punitive measures.

A press statement stated that the latest round of sanctions includes imposing a ban on importing, purchasing and transporting diamonds from Russia, and tightening the existing ceiling on Russian oil prices.

The statement stated that the latest sanctions “will deal another blow to (Moscow’s) ability to wage war by targeting high-value sectors of the Russian economy, and make it difficult to circumvent European Union sanctions.”

The European Union’s High Representative for Foreign Policy, Josep Borrell, stated, “Through the 12th package of sanctions, we are presenting a powerful set of new lists and economic measures that will further weaken the Russian war machine.”

Borrell added: “Our message is clear. We remain steadfast in our commitment to Ukraine, and we will continue to support it in its fight for freedom and sovereignty.” The official approval of the sanctions package against Russia comes after European Union leaders reached a political agreement on it last week.

Under the new round, the import, purchase, or transfer of Russian diamonds, natural and synthetic, and jewelry made from diamonds will be banned as of January 1, 2024. The ban applies to diamonds originating from, exporting from, and transiting through Russia, as well as Russian diamonds processed in Russia. Other places.

#European #sanctions #Russia
2023-12-18 22:03:15

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