EU Commission President offered to introduce:
- New listing of individuals and entities.
- Import bans on Russian products depriving the Russian economy of €7 billion in revenues and export of key technologies needed for the Russian war machine.
- Bans on providing European services
- Prohibition for EU nationals to sit on governing bodies of Russian state-owned companies.
- A legal basis for an oil price cap that will help reduce Russia’s revenues and keep global energy markets stable.
Russia has escalated the invasion of Ukraine to a new level.
And we are determined to make the Kremlin pay the price for this further escalation.
Today, we are proposing a new package of biting sanctions against Russia ↓
— Ursula von der Leyen (@vonderleyen) September 28, 2022
Also, in order to fix the issue of circumvention of sanctions EU is adding a new category to be able to list individuals if they circumvent sanctions.