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Von der Leyen: European Union to announce new sanctions on Russia next week

European Commission President Ursula von der Leyen, during her visit to Kyiv, revealed that the European Union will unveil additional economic sanctions against Russia. These sanctions are expected to include measures targeting companies from non-EU countries that attempt to evade the sanctions.

Published November 04,2023
The European Union will announce new economic sanctions on Russia, including measures against companies from non-EU countries that circumvent the sanctions, European Commission President Ursula von der Leyen announced on Saturday during a visit to Kyiv.

The new measures also include additional import and export bans and a stricter oil price cap, she said.

For too long, many in Europe had thought it was possible to trade with Russia and integrate the country into the European security order, the EU chief said during a speech in the Ukrainian parliament, the Verkhovna Rada.

Several high-ranking EU officials reported last week that there are plans to restrict trade in Russian diamonds. Also on the table is an import ban for so-called dual use goods, materials that can be used for both civilian and military purposes.

This could include an import ban on aluminium and export restrictions on other goods. The Ukrainians have sometimes discovered microchips in Russian missiles that are normally installed in refrigerators.

Numerous punitive measures have long been in place against Russia due to its war against Ukraine. These include a far-reaching ban on imports of crude oil, coal, steel, gold and luxury goods, as well as punitive measures against banks and financial institutions.