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The following spherical of EU sanctions on Russia will concentrate on banning commerce in dual-use applied sciences nonetheless being utilized in Russian weapons programs in Ukraine, diplomatic sources have mentioned.
EU ambassadors will meet to debate the measures in Brussels on Wednesday (15 February) with a view to imposing them in time for the primary anniversary of Russia’s invasion on 24 February.
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The majority of the package deal can be an export ban price some €10bn a 12 months on Western expertise that has been present in Russian weapons and ammunition captured by Ukrainian forces in current preventing, EU diplomatic sources mentioned.
“We wish to ensure European expertise would not find yourself in Russian war-machines … this materials is tough to supply elsewhere, reminiscent of China. It will not be straightforward to switch,” an EU diplomat mentioned.
The brand new sanctions package deal may also embrace a “lengthy checklist” of people to face EU visa-bans and asset freezes.
“It will likely be a mixture of Russian propagandists, MPs, army personnel, businessmen, and native politicians in Russia-occupied areas in Ukraine,” a second diplomat added.
Nevertheless it’s unlikely to cowl Russian exports of diamonds or nuclear expertise to the EU, amid ongoing Belgian considerations about harming its diamond-trading centre in Antwerp in addition to Hungarian objections to the power transfer, diplomatic sources added.
The EU has already blacklisted 1,386 people and 171 entities over the previous 12 months, together with Russian president Vladimir Putin and his shut family members.
It has additionally imposed value caps on Russian oil and fuel, banned most purchases of Russian oil, and focused Russian banks, power companies, defence corporations, aviation and transport companies, and media.
“Russia’s warfare chest is … melting away,” the EU Fee mentioned in a sanctions impact-assessment final October.
“The EU oil and petroleum merchandise embargo … coupled with a multilateral ‘oil value cap’ will considerably dent Russian export revenues and additional cloud the nation’s financial outlook,” it mentioned.
“There isn’t any path out of financial oblivion for Russia so long as the allied nations stay unified in sustaining and rising sanctions strain in opposition to Russia,” mentioned a separate report by Yale College within the US in July final 12 months.
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