12:16 21 Jul 2022

EU approves seventh sanctions package against russia

All EU countries agreed to introduce the seventh package of sanctions against russia

The President of the European Commission, Ursula von der Leyen, announced it.

As noted, the sanctions include an embargo on importing russian gold and blocking the country's largest bank, Sberbank.

They will also expand the list of personal sanctions.

Legal acts have not yet been published in the Official Journal of the EU. Sanctions will enter into force after their publication.

"Member States have agreed to our reinforced, prolonged EU sanctions against the Kremlin. I welcome that.

It sends a strong signal to Moscow: we will keep the pressure high for as long as it takes," said von der Leyen.

She didn't list the specific measures included in the seventh package after discussions in the EU Council. However, it is already known that these EU sanctions include:

  • a ban on purchasing russian gold, including jewelry;
  • freezing of Sberbank's assets;
  • expansion of the list of sanctions to 48 individuals and nine legal entities.

At the same time, Reuters reports that in the seventh sanctions package, the EU may unfreeze some funds of russian banks for trade in food products, including grain.

As Rubryka previously wrote, the permanent representatives of the European Union member states on Wednesday approved a new package of sanctions against russia.

The corresponding decision should be published in the Official Journal of the EU.

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