Ursula von der Leyen – Photo © European Union 2022
(STRASBOURG) – As more gruesome pictures emerge from Ukrainian regions vacated by Russian troops, the EU Commission proposed Tuesday new sanctions on Russia’s economy, including a ban on imports of Russian coal.
At the same time, the EU set up a Joint Investigation Team with Ukraine with the task of collecting evidence and investigating war crimes and crimes against humanity in Ukraine.
Assuring Ukraine’s president Zelensky of Europe’s full support, Commission president Ursula von der Leyen said “the perpetrators of these heinous crimes must not go unpunished”.
“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 Putin and the Russian government at this critical point,” she said.
Under the package of sanctions the EU would:
– impose an import ban on coal from Russia, worth EUR 4 billion per year, cutting an important revenue source for Russia.
– impose a full transaction ban on four key Russian banks, among them VTB, the second largest Russian bank, cutting the four banks which represent 23% of market share in the Russian banking sector, out of the market.
– ban Russian vessels and Russian-operated vessels from accessing EU ports, with exemptions to cover essentials, such as agricultural and food products, humanitarian aid as well as energy. Also proposed is a ban on Russian and Belarusian road transport operators – drastically limiting the options for the Russian industry to obtain key goods.
– more targeted export bans, worth EUR 10 billion, in areas in which Russia is vulnerable – including, for example, quantum computers and advanced semiconductors, but also sensitive machinery and transportation equipment.
– specific new import bans, worth EUR 5.5 billion, to cut the money stream of Russia and its oligarchs, on products from wood to cement, from seafood to liquor – closing loopholes between Russia and Belarus.
– very targeted measures, such as a general EU ban on participation of Russian companies in public procurement in Member States, or an exclusion of all financial support, be it European or national, to Russian public bodies – preventing European tax money from going to Russia.
The EU executive is also proposing further listings of individuals; and says it is working on additional sanctions, including on oil imports.
