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The European Commission is elaborating a mechanism that would restrict exports from the EU to those countries that re-export sanctioned goods to Russia, the Financial Times reported.
According to the Financial Times, the European Commission eyes further restrictions to close Russian sanctions loopholes and prevent exports of products that Russia can use for warfare. The EU plans to develop a legal framework to identify such goods and countries that keep exporting them to Russia. If states, after receiving a warning from the EU, continue to violate the restrictions, then exports control measures will be applied against them, the Financial Times reported.
G-7 nations consider outright ban on exports to Russia, Bloomberg says
Some EU members have expressed concern about how such measures could affect their relations with third countries and whether such steps are consistent with global trade rules, the Financial Times claimed, referring to anonymous sources in the European Commission.
Discussions on the issue will continue. Such a move is being considered as part of the upcoming 11th package of sanctions against Russia.
Related:
- Poland, Baltic states propose to cut off Russia’s Gazprombank from SWIFT – EU Observer
- British company supplied $1.2 billion in electronics to Russia despite sanctions – FT
- French retailer Auchan doubles down its presence in Russia
- Sanctions impair Russia’s ability to manufacture high-tech weapons
Tags: EU sanctions, European Commission, European Union, Russian invasion of Ukraine, Sanctions against Russia
