The European Union has announced a fifth package of sanctions against Russia in response to the atrocities in Bucha, which included a coal embargo against the aggressor and a ban on transactions with four leading Russian banks.
Source: President of the European Commission Ursula von der Leyen
“Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population. We need to sustain utmost pressure at this critical point. So today we are proposing a 5th package of sanctions”.
Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population.
We need to sustain utmost pressure at this critical point.
So today we are proposing a 5th package of sanctions. pic.twitter.com/GEuPQf0Wgr
— Ursula von der Leyen (@vonderleyen) April 5, 2022
The fifth package of sanctions consists of six parts:
1 – An import ban on coal from Russia, worth €4 billion per year, cutting another important revenue source for Russia.
2 – A full transaction ban on 4 key Russian banks, among them VTB, the 2nd largest Russian bank.
3 – A ban on Russian & Russian operated vessels from accessing EU ports and a ban on Russian and Belarusian road transport operators.
4 – Further export bans, worth €10 billion, in crucial areas: advanced semiconductors, machinery and transport equipment
5 – Specific new import bans, worth €5.5 billion euros.
6 – Targeted measures, such as a ban on participation of Russian companies in public procurement in and exclusion of all financial support, EU or national to Russian public bodies.
