According to the EU, the perpetrators of the attack on Ukraine will be held accountable for their crimes.
The EU has announced its fourth package of sanctions against Russia, which has invaded Ukraine. The new sanctions are aimed primarily at luxury goods and investments in the Russian energy sector.
The EU is also adding new oligarchs and disseminators to the freezing list.
Exports of luxury goods to Russia, such as expensive cars and jewelry, are banned. The restrictions also apply to imports of Russian steel products and new investments in the Russian energy sector.
The EU’s fourth sanctions package bans all transactions with certain Russian state-owned companies. Similarly, Russian individuals and entities will be denied access to any credit rating services and subscription services related to credit rating activities.
The EU is expected to go further and faster in sanctions than many have expected. However, according to the BBC, diplomats have reported an increasingly obvious disagreement. Poland and the Baltic countries want even stronger action against Russia, while Germany and Italy, for example, are in favor of a more cautious approach.
The goal is to paralyze the financing of the war machine
In its statement on the announcement of the new sanctions, the EU states that Russia and its accomplice Belarus bear full responsibility for the war of aggression against Ukraine. According to the EU, the perpetrators will be held accountable for their crimes, including the arbitrary targeting of attacks on civilians.
“As President Putin’s war against the Ukrainians continues, so will our decision to support Ukraine and paralyze the Kremlin’s military machinery,” said EU High Representative for Foreign Affairs and Security Policy Josep Borrell, explaining the new sanctions package.
The EU has now also stated its position on the need to suspend Belarus’ accession process to the World Trade Organization, as Belarus has provided material support for Russia’s actions against Ukraine.