Close Menu
    Latest Category
    • Finance
    • Tech
    • EU Law
    • Energy
    • About
    • Contact
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Login
    • EU News
    • Focus
    • Guides
    • Press
    • Jobs
    • Events
    • Directory
    EUbusiness.com | EU news, business and politicsEUbusiness.com | EU news, business and politics
    Home » EU set to hit Russia, Iran with new sanctions

    EU set to hit Russia, Iran with new sanctions

    npsBy nps15 February 2023 Finance No Comments3 Mins Read
    — Filed under: EU News Headline Russia Trade Ukraine
    Share
    Facebook Twitter LinkedIn Pinterest Email
    EU set to hit Russia, Iran with new sanctions

    Ursula von der Leyen – Photo © European Union 2023 – Source EP

    (BRUSSELS) – The EU signalled a 10th package of sanctions on Russia Wednesday, with export bans worth more than EUR 11 billion and controls on electronic components used in Russian weapons systems.

    With Russia’s brutal war of aggression, in which it has targetted civilians, now over a year old, the EU made clear its intention of making Russia pay.

    “For almost one year now, Russia’s war of aggression has been sowing death and destruction. Putin is not only waging a brutal war on the battlefield but he is also viciously targeting civilians,” said Commission president Ursula von der Leyen. “For maximum impact, we are targeting many industrial goods that Russia needs, and that it cannot get through backfilling by third countries,” she added.

    This includes goods such as electronics, specialized vehicles, machine parts, spare parts for trucks and jet engines. The EU is also targeting goods for the construction sector which can be directed to Russia’s military, such as antennas or cranes. The export of dual use goods and advanced tech goods will be targetted, with controls on 47 new electronic components that can be used in Russian weapons systems, including drones, missiles, helicopters.

    Also targetted will be specific rare earth materials and thermal cameras, meaning the EU will have banned all tech products found on the battlefield.

    For the first time ever, the EU is to add third country entities to the Russia dual use sanctions. With Iran’s Revolutionary Guards providing Russia with Shahed drones to attack civilian infrastructure in Ukraine, the EU is adding seven Iranian entities to its our dual use regime. These are now under a complete ban to sell sensitive items to Russia.

    The EU has signalledf that it stands ready to list further Iranian and other third country entities that are providing sensitive technology to Russia. “This should act as a strong deterrent to other companies and international traders,” said Ms von der Leyen.

    Finally, responding to Russia’s “army of propagandists and disinformation networks”, the Commission is proposing to list Putin’s propagandists as well as additional military and political commanders.

    To ensure the new sanctions are strictly applied, the new package introduces new measures to prevent circumvention. This includes tracking oligarchs trying to hide or to sell their assets to escape sanctions, as well as setting up an overview of all frozen assets of the Russian central bank held in the EU.

    “Our aim is to have, together with our G7 partners, further significant sanctions in place by February 24 – exactly one year after Putin launched his imperial war.”

    Add A Comment
    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    nps
    • Website

    Related Content

    ESIP logo

    Policy Officer, European Social Insurance Platform, ESIP

    Business accounting - Photo by Mikhail Nilov on Pexels

    New EU approach to VAT for e-commerce imports to simplify trade and compliance

    PensionsEurope logo

    Policy Officer/Adviser, PensionsEurope

    European companies - Photo by Dmitriy Zub on Pexels

    151,004 multinational enterprise groups operating in the EU and EFTA

    BSTDB Logo

    Director, External Relations and Communications Department, The Black Sea Trade and Development Bank, BSTDB

    Palestine - EU meeting - Photo © European Union 2025

    EU to support Palestinian recovery and reform with EUR 1.6 billion

    LATEST EU NEWS
    Euro - ECB-Photo by Mika Baumeister on Unsplash

    Pound pushes higher after Q1 GDP beats forecast – Euro currency news daily

    15 May 2025
    Business accounting - Photo by Mikhail Nilov on Pexels

    New EU approach to VAT for e-commerce imports to simplify trade and compliance

    14 May 2025
    Fitto - Dombrovskis - Hansen - Photo © European Union 2025

    EU to cut red tape to help farmers

    14 May 2025
    Research - Image by Gerd Altmann from Pixabay

    Digital innovation and AI the focus for EUR 7.3 billion Horizon Europe investment

    14 May 2025
    Gaming Fortnite - Image by Pixabay

    EU moves to make Internet safer for children

    13 May 2025

    Subscribe to EUbusiness Week

    Get the latest EU news

    CONTACT INFO

    • EUbusiness Ltd 117 High Street, Chesham Buckinghamshire, HP5 1DE United Kingdom
    • +44(0)20 8058 8232
    • service@eubusiness.com

    INFORMATION

    • About Us
    • Advertising
    • Contact Info

    Services

    • Privacy Policy
    • Terms
    • EU News

    SOCIAL MEDIA

    Facebook
    eubusiness.com © EUbusiness Ltd 2025

    Design and developed by : 

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?