EU ambassadors have agreed on the 14th package of sanctions against Russia. Currently, the legal texts are being finalized, and the restrictions will be officially approved on Monday during the meeting of the Council of Foreign Ministers.
A high-ranking diplomat stated “off the record” that this package “provides for new targeted measures and maximizes the impact of previous ones by closing loopholes.”
New Sanctions Against Russia
The new sanctions will target more than 100 individuals and entities. Additionally, the 14th sanctions package includes restrictions on the import, investment, and transshipment of liquefied natural gas.
The European Union also continues to combat the circumvention of sanctions. Specifically, additional tools are foreseen to prevent circumvention, especially for the subsidiaries of EU parent companies in third countries. New export restrictions will also be imposed on dual-use goods and technologies, as well as products that contribute to the development of Russia’s industrial potential.
The 14th package also includes sanctions on financial transfer services and will introduce restrictions against foreign interference in EU democracies.
Blocking of the Sanctions Package
- It should be noted that this package has been pending approval for over a month. The decision was blocked by Germany. Chancellor Olaf Scholz explained the delays by stating that countries were discussing the details. According to him, it is necessary to ensure that the German economy can function while also ensuring that goods sent to South America, Asian countries, or Africa do not reach Russia through back channels.
- It is known that Article 12G, also known as the “prohibition on Russia” provision, which would have extended restrictions to subsidiaries in third countries, was excluded from the final draft. Diplomats reported that this exclusion was made just before the meeting of ambassadors, at which the compromise text was distributed among member states.
