The European Commission approved proposals for a new package of sanctions against Russia

European Commission (EC) accepted the proposals of the commission and the High Representative European Union (EU) on the 12th package of sanctions against Russia and sent them for consideration to the bloc’s member countries. The Commission hopes that approval of the restrictions will occur as soon as possible, found out RBC from the EC representative.

The new sanctions are aimed, among other things, at cutting Russia’s income from diamond exports to Europe and partner countries. The publication’s interlocutor noted that when creating a package of sanctions, the commission will work closely with partners in the Big Seven (G7).

According to Bloomberg, new restrictions will touch supplies of diamonds from Russia, Russian liquefied propane (used for heating and as a transport fuel), copper wire, aluminum wire and foil, as well as Russian oil. The EU also plans to limit supplies to Russia of machine tools, chemicals, lithium batteries and engines for UAVs, which the country can use in military operations. Ukraine. The new sanctions will hit Russia’s trade by about 5 billion euros ($5.3 billion).

In the Russian Ministry of Finance statedthat the initiative of Western countries to introduce a direct ban on the supply of Russian rough diamonds to developing countries is aimed at creating a cartel mechanism. According to the deputy department Alexey Moiseevsanctions will lead to a fall in world prices for diamonds and an increase in the production of “affordable synthetics”, which will become a replacement for natural stones.

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