EU Commission proposes 5th package of sanctions on Russia amid Ukraine crisis

ANKARA

The EU Commission proposed the fifth package of sanctions on Russia amid the Ukraine crisis, the Commission head said Tuesday.

“Russia is waging a cruel and ruthless war not only against Ukraine's brave troops but also against its civilian population. It is important to sustain utmost pressure on (Russian President Vladimir) Putin and the Russian government at this crucial point,” Ursula von der Leyen said in a video message.

Underlining that the full packages of sanctions have limited the Kremlin's political and economic options and European countries are seeing tangible results, von der Leyen said: “But clearly, in view of events, we need to increase our pressure further.”

“So today, we are proposing to take our sanctions a step further. We will make them broader and sharper. So that they cut even deeper into the Russian economy,” she said.

The package has six pillars, including an import ban on coal from Russia worth €4 billion ($4.3 billion) per year which will cut another important revenue source for the country, said von der Leyen.

The Commission will also impose a full transaction ban on four key Russian banks, including VTB, which is the second-largest bank in the country, to further weaken Russia's financial system, she said.

The package also includes a ban on Russian vessels and Russian-operated vessels from accessing EU ports, von der Leyen said, adding that certain exemptions will cover extensions such as agriculture, food products, humanitarian aid, and energy.

The Commission will propose a ban on Russian and Belarusian road transport operators which will drastically limit the options for the Russian industry to obtain key goods, she said.

And the Commission will impose further export bans worth €10 billion ($10.9 million) in areas in which Russia is vulnerable, including quantum computers and advanced semiconductors, as well as sensitive machinery and transportation equipment with an aim of degrading Russia's technological base and industrial capacity.

She said a specific new import ban worth €5.5 billion ($6 billion) will also be imposed to cut the money stream of Russia and its oligarchs on various products including salmon, seafood, and liquor, a move which will also close loopholes between Russia and Belarus.

With the new package, the Commission also takes a number of “very targeted measures” such as a general EU ban on participation of Russian companies in public procurement and member states, she noted.

The EU Commission has also proposed an additional listing of individuals, she said, adding that EU leaders are working on additional sanctions, including on oil imports.

“To take a clear stand is not only crucial for us in Europe, but also for the rest of the world. A clear stance against Putin’s war of choice, a clear stand against the massacre of civilians, and a clear stance against the violation of the fundamental principles of the world order,” she added.

On Feb. 24, Russia launched a war against Ukraine, which has met international outrage, with the EU, US, and UK, among others, implementing tough sanctions on Moscow.

At least 1,430 civilians have been killed in Ukraine and 2,097 injured, according to UN estimates, with the true figure feared to be far higher.

More than 4.21 million Ukrainians have also fled to other countries, according to the UN refugee agency.