MILAN – A hit of 7 billion euros in revenue, with new categories of people who can be blacklisted and the legal basis for capping the price of Russian oil, including for third countries. Here is the eighth package of European sanctions against Russia. The new sanctions against Moscow on imports to the EU “will deprive Russia of another 7 billion euros in revenue” while “the extension of List of products that can no longer be exported to Russia “as part of this eighth package of sanctions, “exclude the Kremlin military complex from key technologies such as aerospace items, electronic components and certain chemicals”, according to the President of the European Commission, Ursula von der Leyen. “Russia – he said. Must pay for this further escalation” of the war in Ukraine, and the EU “will never accept” the result of the “wrong” referendums organized by Russia in Donbass”.
Among other things, the European Commission has included the “ceiling price” for oil in its proposal to member states for the new Russian sanctions package. An issue, Moscow crude oil, that has already been raised by the Union itself and in the G7. Von der Leyen elaborated on the point: “The EU has already imposed an embargo on Russian crude oil imported by sea from December 5 – he explained – but other emerging countries need Russian oil at low prices and the G7 has them Introduction of a price cap decided Russian crude oil for third countries was agreed. The price cap for Russian oil would on the one hand eat into Kremlin profits and on the other hand keep prices stable. Today, with this package, we are introducing the legal basis for the postal code price.” The price cap mechanism examined at the G7 goes through the companies that insure shipments: the financing and insurance of the cargo would be stopped if they received crude oil at a price higher than that set as a limit, which constitutes the transport invalid fact.
In the eighth package there is also inclusion in the ‘blacklist’ – which already includes over 1,300 individuals or organizations – of “not necessarily Russian” individuals involved in sanctions evasion. “I want to focus on our efforts, which we are intensifying, to tackle sanctions evasion. Here we add a new category. In this category we will be able to list the people who circumvent our sanctions, for example when they buy goods in the European Union and bring them to third countries and then to Russia. This would circumvent our sanctions and these people could be sanctioned,” the head of the European executive said. “I think that will have a great deterrent effect. Our sanctions have hit the heart of the system and made it difficult for it to sustain the war “, he added.
Von der Leyen emphasized that the new package of sanctions would also include a “ban on European citizens sitting on the supervisory boards of state-owned companies” in Russia.
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