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EU imposes 12th sanctions package against Russia

EU imposes 12th sanctions package against Russia Illustrative photo (Photo: Getty Images)
Author: Daria Shekina

The European Union on Monday, December 18, imposed a new, 12th package of sanctions against the aggressor country, Russia, according to the official site of the EU.

"With this 12th package, we are putting forward a robust set of new listings and economic measures which will further weaken Russia’s war machine. Our message is clear, as I already stated when I chaired the informal Foreign Affairs Council in Kyiv: we remain steadfast in our commitment to Ukraine and will continue to support its fight for freedom and sovereignty," stated Josep Borrell, the head of European diplomacy.

What's included in the new package of sanctions

Russian diamonds

A ban is imposed on the direct or indirect import or transportation of diamonds from Russia. This prohibition extends to diamonds originating from Russia, diamonds exported from Russia, diamonds transiting through Russia, and Russian diamonds processed in third countries.

The ban also extends to jewelry containing Russian diamonds.

Import-export control and restrictions

The sanctions list added 29 organizations supporting Russia's military-industrial complex in its war against Ukraine. Some belong to third countries and are involved in bypassing trade restrictions, or are Russian organizations involved in the development, production, and supply of electronic components for Russia's military-industrial complex.

The ban on transit for dual-use goods and technologies exported from the EU to third countries via Russian territory has been extended.

Restriction on oil prices

Stricter rules for implementing price restrictions on oil will be introduced. Additionally, an enhanced information exchange mechanism will better identify vessels and organizations engaging in fraudulent activities, such as ship-to-ship transfers.

The Council decided to introduce notification rules for the sale of tankers to any third country to make their sale and export more transparent. This applies in particular to used transport vehicles that could be used to circumvent the ban on importing Russian crude or petroleum products and the price restrictions of the G7.

Iron and steel

Today's decision adds Switzerland to the list of partner countries applying a set of restrictive measures on the import of iron and steel from Russia.

Individual lists In addition to economic sanctions, the Council decided to include a significant number of additional individuals and legal entities in the list.

Austria's blockade of sanctions against the Russian Federation

On December 12, EU ambassadors failed to agree on a new package of sanctions against Russia. Vienna hindered the decision as it demanded Ukraine to exclude Raiffeisen Bank International from the list of international sponsors of the war.

The bank did not divest its business after Russia's invasion of Ukraine and continued to operate in the Russian market. In February, the U.S. Office of Foreign Assets Control began investigating RBI's operations in Russia, partially occupied territories of Ukraine, and Syria.