The European Union agreed on a new package of anti-Russian sanctions.
Several foreign news agencies at once reported, citing an EU representative, that the EU had agreed on the eighth package of anti-Russian sanctions. It is planned to introduce personal and general restrictions, including the establishment of a ceiling, a limit value for the price of Russian oil.
The approval of the eighth package of restrictive measures will most likely take place at the summit on October 6. On this day, for the first time, a meeting of leaders of 44 countries within the framework of the European Political Community will be held in Prague. After approval, the EU decision will be officially published, and then it will enter into force.
What does the agreement on the oil price ceiling mean? The EU decision will become a legal basis for limiting the cost of Russian oil on the world market, including any transportation, including sea transportation, to third countries at a higher cost. Moreover, the ban will also apply to related services. It is not yet known what kind of ceiling, the maximum price will be set by the EU countries.
Also, in the draft version of restrictive measures, some concessions were provided for Cyprus, Malta and Greece, as states that may also suffer from the introduction of new sanctions. The fact is that the tankers of these countries transport the majority of Russian oil. The final decisions of the EU will be known after the publication of the document in the Official Journal of the EU.
Although the oil price ceiling is the most significant, it is not the only measure of influence. The sanctions also imply a ban on the import of Russian products and the export of strategic technologies to the Russian Federation.
The new package includes a ban:
- for the supply of a number of steel products, chemicals, industrial equipment and paper;
- for the provision by European companies of services in the field of information technology, engineering and legal services to Russian organizations;
- to hold leading positions for European citizens in Russian state-owned companies.
Also, Russian legal entities will have limited access to aviation equipment, certain substances and components used in the development of important military technologies.
An even wider circle of people will be subject to personal sanctions. In particular, it will include persons who participated in the organization of referendums. The list should also include high-ranking officials of Russian ministries and departments.
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