The European Union is set to propose on Friday a new package of sanctions against Russia over its invasion of Ukraine, as well as actions to tighten already approved sanctions packages, according to Bloomberg, citing people with knowledge of the matter.
The new measures are expected to target Russian gold, introduce more trade restrictions on machinery and add more than 50 individuals and entities to the sanctions list.
The proposals will include clarifications and corrections to previous measures that may have impeded the flow of agricultural and food exports from Russia, the sources said. The EU has not directly imposed sanctions on essential and humanitarian exports, but some shipments may have been slowed by traders and companies that have overstepped the bloc’s measures.
As part of those amendments, the EU is also expected to clarify that ports from which such goods are shipped are not subject to sanctions, one of the sources said.
The new sanctions package requires the support of all member states and could be amended before it receives full support. The aim is to formally approve the measures next week, the sources said.
The bloc hopes the announcement will act as guidance to help ease any doubts and concerns about the necessary trade as food prices have risen around the world, one of the sources said.
The EU has also discussed lifting sanctions on a small number of Russians over legal concerns, Bloomberg reported Thursday.
Source: Capital
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