The EU Adopts the Eighth Package of Sanctions Against Russia

Leroy Carter -

The European Union has formally adopted a new package of sanctions against Russia. According to the official website of the European Commission, the new package includes:

  • The implementation of the G7 oil price cap (the EU's ban on importing Russian seaborne crude oil fully remains);
  • A ban on the import of Russian finished and semi-finished steel products, machinery and appliances, plastics, vehicles, textiles, footwear, leather, ceramics, certain chemical products, and non-gold jewellery;
  • Banning of crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet;
  • IT consultancy, legal advisory, architecture and engineering services can no longer be provided to the government of Russia or legal persons established in Russia;
  • A prohibition on exporting small arms and other goods under the anti-torture Regulation;
  • Sanctions that target those involved in Russia's occupation, illegal annexation, and sham “referenda” in the occupied territories/oblasts of Donetsk, Luhansk, Kherson, and Zaporizhzhia regions.