EU executive proposes import ban on Russian gold

The European Commission on Friday proposed an import ban on Russian gold as part of a new package of European Union sanctions on Moscow over its war in Ukraine.

Ursula von der Leyen

Ursula von der LeyenEPA/GEORGI LICOVSKI

The EU executive also announced measures to tighten existing sanctions against the Kremlin and reinforce controls on dual-use and advanced technology exports.

„Russia’s brutal war against Ukraine continues unabated,” said the European Commission’s head, Ursula von der Leyen, as she outlined the bloc’s seventh package of sanctions against Russia over its invasion of Ukraine. 

„Therefore, we are proposing today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023,” she added.

„Moscow must continue to pay a high price for its aggression,” von der Leyen stated.

„Russia’s brutal war against Ukraine continues unabated,” said the EU’s chief executive, Ursula von der Leyen, as she outlined the bloc’s seventh package of sanctions against Russia over its invasion of Ukraine. 

„Therefore, we are proposing today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023,” she added.

„Moscow must continue to pay a high price for its aggression,” she declared.

The Commission’s plan includes reinforcing controls on dual-use and advanced technology exports and strengthening „reporting requirements to tighten EU asset freezes,” according to the ec.europa.eu website.

EU foreign policy chief Josep Borrell was quoted as saying: „the EU’s sanctions are tough and hard-hitting. We continue to target those close to Putin and the Kremlin.”

Borrell added: „Today’s package reflects our coordinated approach with international partners including the G7. In addition to these measures, I will also present proposals … for the listing of more individuals and entities, with their assets frozen and ability to travel curtailed.”

The EU executive’s proposals need to be approved by the 27 member states before they can take effect.

(gs)

Source: IAR, PAPec.europa.eu

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