Bloomberg: EU to start work on new package of sanctions against Russia

Oleg ShevchenkoNews
The EU is working with the G7

The European Union is preparing to start working on a new package of sanctions against Russia. The new measures could include a ban on Russian diamonds, further strengthening Moscow's ability to circumvent sanctions and listing companies in third countries that help Moscow do so.

This package will be the 12th in a row of Russia's large-scale invasion of Ukraine. This was reported by Bloomberg.

The EU is working with the Group of Seven, representing the world's largest developed economies, on a mechanism to track diamonds across borders, overcoming concerns that any ban would simply lead to a shift in trade elsewhere.

The bloc is also expected to expand the list of restricted goods that Russia can use for military purposes. A key goal of the EU and its allies has been to impede the Kremlin's efforts to acquire critical goods needed to manufacture and supply weapons, and as part of this effort, member states have sought to exert diplomatic pressure on third countries that help Moscow.

"The G7 is also discussing ways to more effectively enforce the price cap on Russian oil as prices have risen above the $60 threshold set by the mechanism.

In addition, the EU member states are slowly moving toward introducing a windfall tax on the frozen assets of the Russian central bank and using these revenues to rebuild Ukraine.

Despite the support of the US and other G7 allies for this measure, the proposal is still far from being tangibly implemented, sources say.

As OBOZ.UA reported earlier, German media also investigated the export of sanctioned goods to Russia. According to them, Russia's neighboring countries have increased purchases of various goods in Germany. It is assumed that the goal is to resell them to Russia itself, bypassing sanctions.

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