European Union announces fifth package of sanctions against Russia

Brussels, Apr 6: President of European Commission Ursula von der Leyen announced a fifth package of sanctions against Russia on Apr 5, banning Russian coal imports to the EU nations. Additional bans in the package include Russian and Russian - operated vessels from using European Union ports.

 

 

 

 

 

The EC President made it public by taking it to Twitter saying, "Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population. We need to sustain utmost pressure at this critical point. So today we are proposing a 5th package of sanctions." The sanctions mainly include ban on coal import from Russia, estimated worth 4 billion Euros income per year for Russia.

 

The sanctions also include a complete transaction bank on four key Russian banks, including Russia's largest bank VTB. Besides the sanctions also include, ban on Russian and Russian operated vessels from accessing European Union ports and also a ban on Russian and Belarusian road transport. Export bans worth 10 billions Euros are also included in the fifth package that deal in the area of advanced semi conductors, machinery and transport equipment.

 

Specific new import bans worth 5.5 billion Euros and targeted measures such as a ban on participation of Russian companies in public procurement and exclusion of all financial support from EU to all Russian public bodies are also included in the sanctions.