BRUSSELS – President of the European Commission, Ursula von der Leyen, has today announced the 11th package of sanctions against Russia for its invasion of Ukraine. The list of sanctions includes trade, transport and energy measures, amongst additional listings that aim to limit ‘‘Russia’s industrial and technological capacity’’.
In accordance with previous sanctions, the EU Commission continues to pursue three primary objectives in relation to sanctions against Russia: degrading its military capacity for engaging in aggressive actions against Ukraine, depriving the Kremlin’s financial resources for the ongoing war and imposing economic consequences on Russia.
The implementation of sanctions has proven effective in achieving these goals, as their impact becomes increasingly pronounced over time. The sanctions have gradually eroded Russia’s industrial and technological foundations, further exacerbating their effects.
The EU Commission website maintains that the ‘‘geopolitical, economic, and financial implications of Russia’s continued war of aggression against Ukraine are clear, as the war has disrupted global commodities markets, especially for agrifood products and energy. The EU continues to ensure that its sanctions do not impact energy and agrifood exports from Russia to third countries.
One of the EU’s significant new measures is the ‘‘new anti-circumvention tool’’, which will allow the EU ‘‘to restrict the sale, supply, transfer or export of specified sanctioned goods and technology to certain third countries whose jurisdictions are considered to be at continued and particularly high risk of circumvention.’’
‘‘As guardian of the EU Treaties, the European Commission monitors the enforcement of EU sanctions by EU Member States’’.
EU Sanctions Envoy, David O’Sullivan remains optimistic regarding the outcome of the sanctions. He notes that the ‘‘first tangible results are already visible. Systems are being put in place in some countries for monitoring, controlling, and blocking re-exports. Anomalous, sky-rocketing trade figures for some very specific products/countries are hard evidence that Russia is actively attempting to circumvent sanctions. This calls for us to redouble our efforts in tackling circumvention and to ask our neighbours for even closer cooperation’’.
The EU stands united in its solidarity with Ukraine, and will continue to support Ukraine and its people together with its international partners, including through additional political, financial, military and humanitarian support for as long as necessary’’, states the press release.
You can read the full press release on the EU Commission’s website here: https://ec.europa.eu/commission/presscorner/detail/en/ip_23_3429
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Source: Ec.europa.eu
