The ambassadors of the 27 member states to the European Union approved on Wednesday the embargo on Russian gold imports and several measures to improve the implementation of the sanctions packages already adopted in the face of Russian military aggression against Ukraine.
The ambassadors approved the next package of sanctions in response to the Russian aggression against Ukraine. The new measures will align the EU with G7 partners, strengthen implementation and fill in the gaps where necessary,” announced the rotating Czech presidency of the EU Council.
In posts on its official Twitter page, the Czech presidency stated that this new package, largely adjustments to the six previously adopted sanctions packages, will be formally adopted by the Council through a written procedure and will enter into force upon publication. in the Official Gazette, which should take place on Friday.
Only in this way will the names added to the list of natural and legal persons subject to sanctions be known.
The endorsement of the ambassadors comes two days after the heads of EU diplomacy gave political support to the ban on imports of Russian gold, including jewelry, at a Council of Foreign Ministers held in Brussels.
We were able to confirm the support of all Member States for the new sanctions package, including [uma proibição à importação] of gold”, announced on the occasion the head of the Portuguese diplomacy, João Gomes Cravinho, according to whom “there is no reason to import gold from Russia”.
Gold is one of Russia’s most exported commodities, with exports in worth about 15 billion dollars (almost the same in euros) for the Russian economy in 2021.
However, this package is primarily intended for improve the effectiveness in the application of all the sanctions already adopted since February and align them with those of international partners, specifically the group of the seven most industrialized countries in the world (G7), although in this case the EU goes further, given that the G7 decided to ban Russian gold trade, but did not include the jewels, which are covered by European sanctions.
Source: Observadora
