The Kyiv Independent launches YouTube series
Skip to content
Edit post

Bloomberg: Some EU members seek to weaken Russia sanctions enforcement plan

by Martin Fornusek November 25, 2023 9:36 PM 2 min read
A European Union (EU) flag next to the European Commission building in Brussels, Belgium, on Nov. 10, 2023. (Simon Wohlfahrt/Bloomberg via Getty Images)
This audio is created with AI assistance

Some EU countries seek to weaken the bloc's plans aimed against Russia's ability to acquire restricted dual-use goods via third-party countries, Bloomberg reported on Nov. 25, citing undisclosed sources.

The European Commission has reportedly proposed banning importers from reselling dual-use products like semiconductors to Russia while requiring the buyers to deposit a certain sum in an escrow account.

In case of the ban's violations, at least half of this deposit would be sent to a Ukraine trust fund, and the contracts would be terminated, Bloomberg reported, citing the EU's sanctions proposals.

A "group of big member states" reportedly raised concerns about the legality and feasibility of such a move.

These countries also prefer a more limited scope of clauses and goods covered by this measure and voiced worries of competitive disadvantage for European companies, the sources told Bloomberg.

Other nations, like the Baltic states, reportedly back the proposal.

Join our community
Support independent journalism in Ukraine. Join us in this fight.
Support us

The European bloc is currently working on its 12th Russia sanctions package, which may reportedly include export bans on machine parts and other dual-use goods, a ban on the export of Russian diamonds, and measures to reinforce the $60 per barrel price cap on Russian oil.

The EU also seeks to strengthen the effectiveness of the sanctions already imposed against Russia over its invasion of Ukraine, according to European Commission President Ursula von der Leyen.

Both the EU and the U.S. have long sought to curtail Russia's ability to acquire sanctioned dual-use goods with military applications via third-party countries.

More than 80% of Russia's purchases of "high-priority items" are coming from China and Hong Kong, Bloomberg said.

Exports from countries like Kazakhstan, Serbia, Turkey, Armenia, Azerbaijan, and Uzbekistan fell in the second half of 2023 but remain mostly higher than pre-war levels, according to the news outlet.

Charles Michel: ‘I don’t think this counteroffensive has failed’
Ten years after Ukrainians took to the streets their dissatisfaction with what many saw as a nail into the coffin of the country’s European future, the European Council president was in Kyiv promising that Ukraine would soon begin accession talks. “My goal is to do everything to make a positive

News Feed

2:49 AM

Russia struck passenger bus in Sumy Oblast, injuring 3.

In the Richky community of Ukraine's northeastern Sumy district, Russian forces used a drone to drop an explosive device on a passenger bus. The explosion injured three civilians and damaged the bus, the Sumy Oblast Military Administration reported on Oct. 5.
7:50 PM

Russian attack on Kherson injures 4.

Russian forces carried out a drone attack in the Dripro district of Kherson on October 5, leaving four civilians injured, local authorities reported.
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.