Reuters: New tough sanctions against Russia on Wednesday by US and allies

The USA and their allies will announce a new round of sweepers tomorrow Wednesday sanctions at the expense of Russiaas reported by Reuters, citing a source who knows the content of the announcement.

Penalties will provide ban on any new investment in Russia, increase restrictions on financial institutions and state-owned companies, while targeting Russian government officials and their familiesrebroadcasts the APE BPE.

Earlier in the day, the President of the Commission stressed the need to maintain maximum pressure on Russian President Putin and the Russian government. Ursula von der Leyenwhich presented the Commission ‘s proposal for a fifth package of sanctions against Russia.

This package includes:

• Firstly, the ban on imports of coal from Russia, worth 4 billion euros a year, in order to reduce another important source of revenue for Russia.
• Secondly, the complete ban on transactions in four major Russian banks, including VTB which is the second largest Russian bank. These four banks represent 23% of the market share in the Russian banking sector, according to the Commission.
• Thirdly, the ban on access to Russian ships and Russian-owned vessels in EU ports. Some exceptions will cover basic goods such as agriculture and food, humanitarian aid and energy. In addition, the ban on Russian and Belarusian road transport that will drastically limit the options for Russian industry to acquire basic goods.
• Fourth, targeted € 10 billion export bans in areas where Russia is vulnerable, such as quantum computers and advanced semiconductors, as well as sensitive machinery and transport equipment.
• Fifth, import bans, worth 5.5 billion euros, on products from wood to cement, from seafood to beverages.
• Sixth, the general EU ban on Russian companies participating in public procurement in the Member States, or the exclusion of any financial support, whether European or national, from Russian public bodies.
• Finally, the list of sanctions against persons will be expanded.

It is noted that the Commission is considering additional sanctions, including oil imports, and is considering some of the ideas presented by the Member States, such as taxes or specific payment channels, etc.