European Commission proposed eighth package of sanctions against russia

The European Commission proposed the eighth package of sanctions against russia due to its invasion of Ukraine and illegal referendums in the occupied territories.

The proposal was presented by the President of the European Commission, Ursula von der Leyen, at a briefing in Brussels, the EP writes.

"Last week, russia has escalated the invasion of Ukraine to a new level. The sham referenda organized in the territories that russia occupied are an illegal attempt to grab land and to change international borders by force. The mobilization and putin's threats to use nuclear weapons are further steps on the escalation path. We do not accept the sham referenda and any kind of annexation in Ukraine. And we are determined to make the Kremlin pay for this further escalation. Today, we are together proposing a new package of biting sanctions against russia. The first part concerns the listing of individuals and entities," von der Leyen said.

The European Commission proposes to establish a new ban on the import of russian products. This will deprive russia of revenues of 7.5 billion euros.

It is also proposed to expand the list of products that cannot be exported to russia. This applies, in particular, to additional materials for aviation and electronic components, as well as specific chemical compounds.

"The aim is here to deprive the Kremlin's military complex of key technologies," von der Leyen said.

"We also propose to ban additional services for russia and ban citizens of EU countries from holding management positions in state-owned russian companies," von der Leyen said.

The European Commission also proposed a legal basis for introducing a price cap on russian oil.