12th EU sanctions package can be agreed on Wednesday

Josep Borrell. Stock photo: Getty Images

Josep Borrell, EU High Representative for Foreign Affairs and Security Policy, has predicted that the new 12th package of sanctions against Russia could be agreed and presented this week.

Source: Borrell after a meeting of the EU Foreign Affairs Council on Monday in Brussels, reported by European Pravda

Details: Borrell pointed out that the 12th package of sanctions will include “more listings, new export bans, among them diamonds, actions to tighten the oil price cap in order to decrease the revenue Russia is getting.”

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“We are finalising the last details of this package. It will be drawn up by a Council decision, which will then approve the relevant decisions, and a Council regulation, which will provide guidance to member states on how to implement these decisions,” Borrell explained the procedure.

“This Council regulation could be adopted on Wednesday by a joint proposal that I and the European Commission will submit to the Council,” he added.

Bloomberg reported that the proposals of the 12th EU sanctions package include restrictions on trade in goods worth about €5 billion.

The new package may include more than 100 individuals and 40 legal entities. There are also discussions about banning the employment of Russians in so-called “sensitive” sectors and the repatriation of Russian assets to the EU.

Background: Discussions on new sanctions moved forward after the G7 foreign ministers gave the green light to impose restrictions on diamonds of Russian origin at a meeting in Japan.

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