EU Commission Presented the Fifth Package of Sanctions Against Russia

Leroy Carter -

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.