Skip to content
Edit post

Bloomberg: EU to start work on 12th Russia sanctions package

by Martin Fornusek October 21, 2023 10:11 AM 2 min read
The EU and Ukrainian flags in front of the European Parliament in Brussels, Belgium, July 2023. (Thierry Monasse/Getty Images)
This audio is created with AI assistance

The EU will start consulting with member countries on the next sanctions package against Russia over its invasion of Ukraine in the coming days, Bloomberg reported on Oct. 20, citing undisclosed sources.

The bloc's 12th sanctions package could include a ban on Russian diamonds, a further crackdown on Russia's ability to circumvent sanctions, and listing companies in third-party countries that help Moscow to do so, Bloomberg said.

Despite Western sanctions, Russia's diamond sales keep filling the Kremlin's coffers amid the ongoing full-scale invasion of Ukraine.

Russia's main diamond producer, Alrosa, sells its product to Western brands through intermediaries in third-party countries, an investigation by the Kyiv Independent revealed.

That diamond ring? It may have helped pay for Russia’s war
Editor’s note: This story uses sources who are speaking on condition of anonymity since revealing their identities would heavily damage their careers and expose them to legal and personal risks in the diamond industry. Their identities are known to the Kyiv Independent. Top findings: * Despite th…

Brussels also reportedly seeks to expand the list of restricted dual-use goods with military applications, yet another product that Moscow manages to obtain via third-party states.

The European Commission warned earlier that if diplomatic channels are insufficient to prevent third-party countries from re-exporting sanctioned products, the European bloc can ban exports to those states as well.

According to Rikard Jozwiak, a journalist at Radio Free Europe/Radio Liberty, discussions between the European Commission and the EU ambassadors on the new package are to begin between Oct. 21-22. European leaders hope to reach an agreement in November through December, he added.

The EU imposed its previous 11th sanctions package in June, aimed at countering sanctions circumvention, mainly in dual-use products and in Russian oil trade.

News Feed

12:59 AM

Supervisory board extends arms procurement head's contract, initiates audit following proposed merger.

The contract extensions comes after Defense Minister Rustem Umerov walked back on plans to merge the Defense Procurement Agency and the State Logistics Operator into one agency, following a NATO statement said that the two agencies should be kept separate and two separate supervisory boards established "to perform their tasks and supporting their independence and anti-corruption policies."
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.