The European Commission on Wednesday proposed to introduce another – ninth – package of sanctions against Russia, which should include a ban on transactions with three Russian banks and other measures.
According to a statement from EC Chairwoman Ursula von der Leyen, the EU executive body proposes as part of the new package of measures to include about 200 more individuals in the sanctions lists, to introduce a ban on transactions with three Russian banks, including the All-Russian Bank of Regions Development, as well as the broadcasting of four Russian media channels.
Von der Leyen’s proposals also include a ban on the export of unmanned aerial vehicles to Russia. In addition, the EC wants to impose new export restrictions, in particular on dual-use goods – “key chemicals, neuroparalytic substances, electronics and IT components.
Switzerland on Wednesday approved the eighth package of sanctions against Russia, which includes the introduction of a “ceiling” on Russian oil prices.
“The Swiss Federal Council adopted another set of sanctions against Russia on November 23. The council approved the measures adopted by the European Union as part of the eighth sanctions package,” the document published on the Federal Council’s website reads.
“The sanctions include a legal basis for imposing a ‘ceiling’ on prices of Russian oil and oil products, as well as restrictions on iron and steel goods, aerospace products and goods of economic importance to Russia,” the statement stressed.
It is specified that the sanctions will take effect at 18:00 Wednesday local time (19:00 KSC).
The new measures also include a ban on the provision of IT, engineering, architectural and legal services to the Russian authorities and companies. In addition, a ban is introduced for citizens of Switzerland to occupy managerial positions in some companies owned by Russia.
The document notes that on October 12, the Swiss authorities added 30 more individuals and entities to the sanctions list for Russia.
The EU adopted the eighth package of sanctions with similar measures on October 6 in response to Russia’s escalation of military aggression against Ukraine.
The United States, in contacts with the EU countries, put forward a proposal to apply the experience gained from the implementation of the export control regime in relation to the Russian Federation against China, Bloomberg reported on Monday, citing a number of anonymous sources.
“The United States, in contacts with European allies, has voiced the idea of learning from the export control regime used against Russia to fight China, according to people familiar with the matter,” the agency said.
The White House is “exploring some elements of similar information sharing and coordination in implementing measures to tighten US and EU restrictions” on exports to China, the sources said.
Such discussions come at a time when the EU and the US are discussing the agenda for the third meeting of the Trade and Technology Council scheduled for December 5, which serves as a forum for coordinating trade and technology policy between the EU and the US.
However, the sources note, the EU is not inclined to consider applying to the PRC the same approach that was used in relation to Russia. According to one source, the EU may look at the goods that Beijing is able to use to increase its military capabilities.
In turn, the US National Security Council denied plans to extend the export control regime against the Russian Federation to China, and the fact of discussions on this topic with European countries.
Bloomberg explains that export restrictions are considered potentially effective in slowing down China’s development amid global competition for technological supremacy.
On October 7, the US Department of Commerce banned the sale to China of the most advanced chips, as well as equipment, components and software for their production, with a special focus on technologies related to artificial intelligence and potential military applications. The restrictions affected the exports of other countries, which depend on similar American technologies and programs. Also, US citizens were forbidden to advise the Chinese side or provide it with other services in this area.
Subsequently, US Deputy Secretary of Commerce for Industry and Security Alan Estevez said that Washington expects an early agreement with the allies on their accession to these restrictions. However, authorities in the Netherlands, home of ASML Holding, a manufacturing equipment for the electronics industry, have expressed concern about the effect of new US restrictive measures.
Meanwhile, in mid-October, The Financial Times reported, citing an EU foreign policy document prepared for a meeting of the EU Foreign Affairs Council, that, in its opinion, China is a competitor that needs to be confronted, and that policy towards China should be tightened. A number of EU leaders later also warned against economic dependence on China.
Decrees “On the decision of the National Security and Defense Council of Ukraine dated October 19, 2022 “On the application and amendment of personal special economic and other restrictive measures (sanctions)” have been published on the website of the President of Ukraine.
These decisions impose sanctions on 2,507 individuals and 1,374 legal entities, most of which are Russian citizens and Russian legal entities.
Decree No. 726\2022 imposes sanctions against politicians, public figures, military personnel, among whom is Putin’s daughter Yekaterina Tikhonova. The same decree introduces sanctions against Russian legal entities.
Decree No. 727\2022 imposes sanctions against oligarchs, including against Roman Abramovich.
The New Zealand government has expanded sanctions against key Russians amid Russia’s full-scale aggression against Ukraine, the Australian Associated Press reports.
On Tuesday, New Zealand’s Foreign Minister Nanaia Mahuta announced that 19 new “members of Putin’s inner circle” would be subject to financial and travel sanctions as part of coordinated global action.
“Ukraine has been clear that the most important action we can take to help them are our ongoing sanctions and supporting them through the conflict, as we continue to do,” she said.
At the moment, the sanctions apply to about 1,000 people.
In turn, New Zealand Defense Minister Peeni Henare noted that there is no opportunity to provide military assistance yet, since Ukraine’s requests do not coincide with the resources that are available. At the same time, Henare stressed that New Zealand is ready to provide additional assistance if Ukraine’s needs match its reserves.
The EU Council on Wednesday decided to impose restrictive measures against two additional persons – ex-President of Ukraine Viktor Yanukovych and his son Oleksandr – in response to the ongoing unjustified and unprovoked military aggression of the Russian Federation against Ukraine.
The Council added the pro-Russian former President of Ukraine Viktor Fedorovych Yanukovych and his son Oleksandr Viktorovych Yanukovych to the list of persons, entities and bodies subject to restrictive measures set out in the Annex to Decision 2014/145/CFSP for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and the state’s stability and security, as well as – in the case of Oleksandr Viktorovych Yanukovych – for conducting transactions with the separatist groups in the Donbas region of Ukraine, the European Council said on its website.
The relevant legal acts are published in the Official Journal of the EU.
