The European Council said in a statement on Friday that it has decided to impose a fifth package of economic and individual sanctions against Russia.
According to the press release, Some of the key sanctions that the package comprises are:
Ban on buying, importing or transferring coal and other solid fossil fuels to the EU if they come from Russia or are exported from Russia, from August 2022. Coal imports to the EU currently amount to 8,000 million euros per year.
Ban on facilitating access to EU ports for ships registered under the Russian flag. Exceptions are granted for agricultural and food products, humanitarian aid and energy.
Ban on any Russian and Belarusian companies transporting goods by road within the EUeven in transit.
new export banstargeting jet fuel and other commodities, such as quantum computers and advanced semiconductors, high-end electronics, software, sensitive machinery and transportation equipment, and new import bans on products such as: wood, cement, fertilizers, seafood and liquor.
Source: Fx Street
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