EU set to propose banning many goods from transiting via Russia | Business

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The European Union is set to propose a ban on many goods transiting through Russia as the bloc attempts to tighten the screws on the enforcement of sanctions imposed over the past year. | News24_Business

The new package of proposed sanctions, which would be the EU’s 11th since Russia’s invasion of Ukraine in February 2022, could also target tankers and vessels that don’t turn on navigation systems allowing their movements to be tracked, the people said.

The main focus of the package that the EU’s executive arm is putting together will be to close loopholes and deal with the circumvention of existing restrictions, including by companies in third countries. The package is unlikely to target Rosatom, the Russian state nuclear power company, the people said, despite numerous member states calling to sanction the firm over its role in taking over Ukraine’s Zaporizhzhia atomic power plant and alleged complicity in abducting personnel who worked there. Too many member states remain opposed to sanctioning Russia’s nuclear sector, said the people.

The suite of measures is also expected to include about 30 new listings as well as further restrictions on several firms and entities, one of the people said. The proposals need the backing of all member states to be adopted and could change before they’re formally presented to diplomatic envoys or during discussions to agree the package.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month.

 

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