Sun, 27 Nov 2022

EU eyes new sanctions against Russia

Robert Besser
25 Sep 2022, 03:12 GMT+10

BRUSSELS, Belgium: In response to a new escalation in Russia's war against Ukraine, the European Union is considering an oil price cap, further restrictions on high-tech exports to Russia and more sanctions against individuals.

The move by the EU's 27 member states was spurred by an announcement this week of a partial mobilization for the war and support for plans to annex parts of Ukraine controlled by Russia.

During an ad hoc meeting on the sidelines of United Nations meetings in New York, EU foreign ministers agreed to prepare new sanctions against Russia.

CNN reported that Ursula von der Leyen, European Commission President, said possible sanctions would consist of "economic and individual" measures, and include "additional export controls on civilian technology."

The EU's hawks, most notably Poland and the Baltic countries, are confiscating Russian assets frozen in Europe and proposing banning Russian diamond imports.

However, other nations stressed that confiscating Russian assets was unlikely to get unanimous EU backing.

The EU's largest economy, Germany, has not been keen to impose tougher economic restrictions, while Hungarian Prime Minister Viktor Orban, who has close ties to Vladamir Putin, said last week that all sanctions should be scrapped.

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