EU executive proposes new trade bans on Russia

The proposed new curbs, if approved by all 27 EU member states, could cost Russia EUR 11 billion in lost trade, news agencies reported.

“We are weakening Russia’s ability to maintain its war machine,” European Commission President Ursula von
der Leyen said on Wednesday.

“We have adopted nine packages of sanctions, the Russian economy is shrinking,” she added. “We need to keep up the pressure.”

Von der Leyen told the European Parliament on Wednesday that the EU executive was “suggesting restrictions on some dual-use and electronic components used in Russian armed systems such as drones and missiles and helicopters.”

New EU sanctions on Russia could also target Iran

She added that the EU’s 10th sanctions package could also target Iran for helping Russia’s war, the Reuters news agency reported.

“There are also hundreds of drones manufactured in Iran, used by Russia, in the battlefield in Ukraine,” von der Leyen said, as quoted by Reuters. “These Iranian drones kill Ukrainian civilians … so for the first time we are also suggesting sanctions targeting Iranian economic operators including those linked to the Revolutionary Guards.”

The bloc is working on its 10th sanctions package to mark the one-year anniversary of Russia’s invasion of Ukraine on February 24, according to officials.

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

Wednesday is day 357 of Russia’s war on Ukraine.


Source: IAR, PAP, Reuters