EU adopts seventh sanctions package against Russia

21 July, 07:02 PM
ЄС послабив санкції у сфері перевезень сільськогосподарських продуктів та постачання нафти до третіх країн (Photo:REUTERS/Yves Herman)

ЄС послабив санкції у сфері перевезень сільськогосподарських продуктів та постачання нафти до третіх країн (Photo:REUTERS/Yves Herman)

The European Union adopted the seventh sanctions package against Russia on July 21, the European Council said in a press release.

"Today's 'maintenance and alignment' package introduces a new prohibition to purchase, import, or transfer, directly or indirectly, gold, if it originates in Russia and it has been exported from Russia into the EU or to any third country after," reads the report.

"This prohibition also covers jewelry."

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It is noted that the package also extends the list of controlled items, which may contribute to Russia's military and technological enhancement or the development of its defense and security sector, thereby reinforcing export controls on dual use and advanced technology.

At the same time, with a view to avoid any potential negative consequences for food and energy security around the world, the EU decided to extend the exemption from the prohibition to engage in transactions with certain state-owned entities as regards transactions for agricultural products and the transport of oil to third countries.

EU Foreign Affairs High Commissioner Josep Borrell tweeted that the major Russian Bank, Sberbank, as well as and the Night Wolves motorcycle club were also sanctioned.

The European Council stressed that work would continue on sanctions, including to strengthen implementation and prevent circumvention.

Earlier the Bloomberg news agency reported that "some member states have been pushing to expand the bloc's sanctions to hit gas, but there is little appetite among the vast majority of nations to go there."

Russia is the second largest gold mining country in the world, exporting about $15 billion worth of gold in 2021.

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