The European Union intends to significantly expand sanctions against Russia in the coming months due to its war against Ukraine. This was reported to the German newspaper Die Welt by the head of the EU’s foreign policy department, Kaja Kallas.
“EU sanctions have already cost Russia dearly, depriving its military machine of more than 1 trillion euros (1.16 trillion US dollars). In the autumn, I propose to introduce the largest sanctions restrictions since the beginning of the war,” she stated.
Kallas, who heads the European External Action Service (EEAS) — the EU’s diplomatic service — added: “Once approved, they will immediately increase the total number of sanctioned Russian individuals and companies by a third. The pressure must increase until Moscow stops the war.”
Details of the new restrictions
Kallas did not specify the timing or details of the new sanctions lists. At the same time, EU diplomatic sources reported that the EEAS will propose imposing sanctions on approximately 1,600 individuals and legal entities located in Russia and associated with its military-industrial complex.
According to sources, the restrictions will include travel bans and transaction prohibitions, as well as asset freezes. Currently, the EU has already included nearly 3,000 individuals and companies on its sanctions lists.
For the approval of sanctions, the EU requires a unanimous decision from all member states. Previous packages of restrictions against Russia have often been accompanied by prolonged disputes between the bloc’s countries.
Source: South China Morning Post
