EU bans coal imports, closes ports to Russian ships, imposes more banking restrictions

5 April, 06:38 PM
Ursula von der Leyen (Photo:Ursula von der Leyen via Twitter)

Ursula von der Leyen (Photo:Ursula von der Leyen via Twitter)

The European Union is implementing a fifth round of sanctions against Russia, targeting four major Russian banks, coal imports, and maritime trade, President of the European Commission, Ursula von der Leyen said on April 5.

“Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population,” von der Leyen said on Twitter.

“We need to sustain utmost pressure at this critical point.”

The additional European sanctions include the following:

A ban on coal imports from Russia (amounts to EUR 4 billion, annually);

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A ban on all transactions with four key Russian banks, including VTB – the country’s second-largest bank;

A ban on Russian and Belarussian ships entering ports of EU members, along with a similar restriction on Russian and Belarusian trucks entering the EU;

A further ban on EU exports of hi-tech goods to Russia, such as semiconductors and machinery (amounts to EUR 10 billion);

A ban on importing a selection of Russian goods to the EU (amounts to EUR 5.5 billion);

Targeted measures, such as barring Russian companies from all EU procurements, and a ban on all kinds of financial relief for Russian state agencies;

Von der Leyen added that the EU is hammering out additional measures, in particular – those related to oil imports from Russia.

Taxing EU trade with Russia, or routing corresponding payments through escrow accounts are also among the proposals Europe is considering, the commission’s head said.

“To take a clear stand is crucial for the whole world; a clear stand against Putin’s war of choice; against the massacre of civilians; against the violation of the fundamental principles of the world order. Slava Ukrayini,”said von der Leyen.

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