Contact Us

EU's new Russia sanctions to go after industrial goods, technology

"For almost one year now, Russia's war of aggression has been sowing death and destruction," von der Leyen said in a video statement. "The perpretrator has to pay for this," she added. The new sanctions package contains EU export bans on industrial goods and critical technology worth €11 billion ($12 billion) and controls on 47 new electronic components used in Russian weapon systems.

Published February 15,2023
Subscribe

European Commission President Ursula von der Leyen announced on Wednesday a tenth package of sanctions on Russia for invading Ukraine as the one-year anniversary of the war approaches.

"For almost one year now, Russia's war of aggression has been sowing death and destruction," von der Leyen said in a video statement. "The perpretrator has to pay for this," she added.

The package contains EU export bans on industrial goods and critical technology worth €11 billion ($12 billion) and controls on 47 new electronic components used in Russian weapon systems.

The aim is to target industrial wares "that Russia needs, and that it cannot get from other countries like China," von der Leyen said.

Von der Leyen said Iran is to be targeted in the Russia sanctions linked to Tehran's supply of drones used in the Kremlin's attacks on Ukraine. Seven Iranian organizations are to be sanctioned.

The European Union is "ready to list further Iranian and other third country entities that are providing sensitive technology to Russia," she said, adding this is to serve as a wider deterrent.

The commission is also targeting more individuals in the Russian media as Russian President Vladimir Putin is "waging war in the public space," von der Leyen said.

EU efforts to prevent sanctions evasion are to be stepped up and an inventory of Russian central banks assets in the bloc is to be carried out, von der Leyen.

The EU has already imposed multiple rounds of sanctions on Russia since it invaded Ukraine last February, targeting Russia's economy, financial system, central bank, and top government officials.