Ursula von der Leyen proposed new sanctions of 7 billion euros for Russia

New set of sanctions against her of Russia which includes an oil price ceiling, further trade restrictions and new blacklistings, the President of the Commission proposed today Ursula von der Leyen.

The new bans on imports of Russian products are expected to deprive Russia of an additional 7 billion euros, stressed Ursula von der Leyen, in her statements to the press, today in Brussels. The Commission proposes to ban exports to Russia of basic technology items used for the military, such as aeronautical items, electronic components, chemicals, etc., explained the President of the Commission. The Commission also proposes to ban EU citizens from sitting on the boards of Russian state-owned companies.

The new package of sanctions comes as a first reaction to Russia’s announcement of partial military deployment, its nuclear threats to the West and the fake referendums it held in parts of Ukraine.

“We are proposing a new package of tough sanctions against Russia,” stressed Ursula von der Leyen, adding: “We do not accept fake referendums or any kind of annexation to Ukraine. And we are determined to make the Kremlin pay the price for this further escalation.”

She reminded that the G7 countries have already agreed in principle to put an upper limit on the price of oil. He also reminded that the EU has already agreed to stop imports of Russian oil from December 7.

For his part, EU foreign policy chief Josep Borrell urged the international community not to recognize the “fake” referendums held by Russia in occupied Ukraine. “With the illegal referendums organized by Russia, the Kremlin is following the same tactics that we have already seen in Georgia in 2008 and in Crimea in 2014,” Borel said in statements to the press, pointing out that these referendums are violations of international law and the principles of the United Nations Charter. Borrell said the EU would further increase the list of persons and entities facing sanctions.

The Commission’s proposals for the eighth package of sanctions against Moscow must be approved unanimously by the 27 EU countries at the next Council of Foreign Ministers in mid-October.