President of the European Commission Ursula von der Leyen presented the fifth package of sanctions against Russia for invading Ukraine.
The new sanctions include:
- an import ban on coal from Russia, worth €4 billion per year;
- a full transaction ban on four key Russian banks, including VTB, the second largest Russian bank;
- a ban on Russian vessels and Russian-operated vessels from accessing EU ports;
- further targeted export bans in important areas such as machinery and state-of-the-art semiconductors;
- specific new import bans, worth €5.5 billion, on products from wood to cement, from seafood to liquor;
- exclusion of all financial support on any level to Russian public bodies.
