THE EUROPEAN UNION has approved an embargo on Russian coal and the closing of the bloc’s ports to Russian vessels over the Ukraine war.
The EU also blacklisted Russian President Vladimir Putin’s two adult daughters and more than 200 other people as part of its latest sanctions package, according to an official list published late tonight.
The EU sanctions include a ban on Russian and Belarussian road transport operators from the EU; and another 18 entities being added to the sanctions list, including four key Russian banks, representing 23% of market share in the Russian banking sector.
A further 217 individuals were also designated, including oligarchs, propagandists, and members of the ‘parliaments’ and ‘ministers’ of the breakaway regions.
This is the fifth sanctions package approved by the European Union against Russia over its invasion of Ukraine.
Minister for Foreign Affairs Simon Coveney said the package was “particularly important following the atrocities committed in Ukraine that came to light last week”.
We must do what it takes to cut off funding to the Kremlin’s war effort, and to push those close to the regime to use their influence to bring this unjustified, illegal and immoral war to an end.
“The EU will continue its close cooperation with like-minded partners to coordinate on the toughest sanctions. We stand united with Ukraine.”
An official from the French presidency of the European Council said the moves spearhead a “very substantial” fifth round of sanctions against Moscow.
That package also includes a €10 billion ban on exports to Russia, including high-tech goods, and the freezing of several Russian banks’ assets.
In addition to the sanctions, the EU also backed a proposal to boost its funding of arms supplies to Ukraine by €500 million, taking it to a total of €1.5 billion.
European Council President Charles Michel said on Twitter the package would be “swiftly approved”.
The new financial measures were proposed by the European Commission after the bodies of dozens of civilians were found last weekend in Bucha, near Kyiv.
It is the first time the Europeans have targeted the Russian energy sector, on which they are heavily dependent.
The EU nations import 45% of their coal from Russia, worth €4 billion a year.
The embargo will come into force at the beginning of August, 120 days after the publication of the new package in the EU’s official journal, expected on Friday.
The list of Russian products banned from the EU is also being extended to include certain “critical raw materials and equipment” worth an estimated €5.5 billion a year to stop the financing of Moscow’s war effort in Ukraine.
Russian and Belarusian road hauliers are now banned from operating in the EU, the French Presidency said in a series of tweets.
The EU’s blacklist is also being expanded by more than 200 names, including Russian oligarchs and Vladimir Putin’s two daughters, according to a document seen by AFP.
Russia “will suffer a long descent into economic, financial and technological isolation”, European Commission President Ursula von der Leyen said on Twitter.
There will be a meeting of the Foreign Affairs Council in Luxembourg on Monday, where further measures will be discussed.
© AFP 2022, with reporting from Gráinne Ní Aodha.
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