EU government proposes eighth batch of sanctions in opposition to Russia By Reuters

By Gabriela Baczynska, Sabine Siebold and Marine Strauss

BRUSSELS (Reuters) -The European Union government proposed on Wednesday an eighth spherical of sanctions in opposition to Russia over its invasion of Ukraine, together with tighter commerce restrictions, extra particular person blacklistings and an oil value cap for third international locations.

The proposal will now go to the bloc’s 27 member international locations, which might want to overcome their variations to implement the brand new sanctions on prime of seven units of punitive measures imposed on Russia since its forces swept into Ukraine on Feb. 24.

That will take time regardless of the EU being spurred into motion by Russia’s navy mobilisation final week, nuclear threats and steps to annex a swathe of Ukraine, after invading the previous Soviet republic that aspires to hitch the EU.

“We don’t settle for the sham referenda (in Russian-occupied areas of Ukraine) nor any form of annexation…And we’re decided to make the Kremlin pay the worth for this additional escalation,” European Fee President Ursula von der Leyen advised reporters.

“We’re proposing a brand new bundle of biting sanctions.”

The Group of Seven main industrialised international locations – which incorporates EU international locations Italy, France and Germany – have already agreed to place an oil value cap in place by way of insurers.

Earlier on Wednesday, a senior financial adviser to Ukrainian President Volodymyr Zelenskiy referred to as on the EU to additional lower cash flows to Russia from fossil gas gross sales.

“In case you are doing nothing it means you might be simply prolonging this warfare with Ukraine. That is simply ridiculous. The entire civilised world must be united on that,” mentioned Oleg Ustenko.

Whereas the EU already agreed to cease importing Russian oil beginning later this 12 months, Ustenko mentioned “blood cash” would carry on flowing to Moscow except European corporations have been banned from insuring Russia’s seaborne shipments to different international locations.

UNANIMITY

The proposed sanctions fall wanting harder-hitting measures, together with a ban on importing Russian diamonds, sought by Russia hawks Poland and the three Baltic international locations.

However EU states want unanimity to impose sanctions and the oil cap is likely to be an excessive amount of for Hungary, the place Prime Minister Viktor Orban, who cultivates shut ties with Russian President Vladimir Putin, has been a vocal critic of financial restrictions.

Ustenko hoped Hungary would finally agree, and that EU international locations with massive delivery fleets – Greece, Malta and Cyprus – would additionally again extra measures hitting Russian oil revenues.

Talking subsequent to von der Leyen, EU overseas coverage chief Josep Borrell mentioned the bloc was additionally blacklisting extra people from Russia’s defence sector, these concerned in advert hoc votes organised by Moscow in occupied Ukrainian territories, these the West blames for spreading Russian propaganda and people serving to to bypass sanctions in opposition to Moscow.

Poland’s EU ambassador mentioned the proposed particular person sanctions would come with Patriarch Kirill, head of the Russian Orthodox Church and an in depth Kremlin ally, after earlier makes an attempt to blacklist him within the EU have been blocked by Hungary.

Von der Leyen mentioned a brand new imports ban would price Russia 7 billion euros in misplaced revenues and that the EU would additionally develop the listing of prohibited exports “to deprive the Kremlin’s warfare machine of key applied sciences”.

Below the proposal, European corporations could be barred from offering extra providers to Russia and European residents wouldn’t be allowed to take a seat on boards of Russian state corporations.

This may be a nod to common outrage over the circumstances of Gerhard Schroeder and Francois Fillon – former prime European politicians who subsequently took jobs on Russian boards.

The Fee was on account of current particulars of the proposal to member states at a closed-door assembly in a while Wednesday and the 27 have been anticipated to have a primary dialogue on Friday earlier than nationwide EU leaders meet in Prague on Oct. 6-7.