The EU has begun work on new sanctions against
Earlier, the United States and the G7 countries announced a ban on gold imports from Russia. Now the EU is working on such an opportunity, Bloomberg writes.
The European Union is working on established sanctions on Russian gold in line with similar actions by the G7 countries, writes Bloomberg, citing sources familiar with countless discussions. “Preparations for the new package are ongoing, and in some cases additional measures will be added to those already proposed,” said one of the agency participants.
Russia is the second largest gold mining country in the world, with its gold exports estimated at £12.6bn in 2021. This week, the US imposed a ban on the import of gold into the country, except as required by law, or with a license issued by OFAC. In particular, under the ban on the fall of natural gold mined in Russia, and goods made in the Russian Federation from it. Prior to this country, the G7 had officially announced its plans to ban gold imports from Russia. The G7 includes the UK, Germany, Italy, Canada, France, Japan and the US.
Industry analysts cited by Bloomberg suggest that the import ban is in a symbolic country, since the sanctions imposed on Russia are in fact already closed to European countries and the United States. And even the flows in the district trading centers in London and Zurich have largely dried up due to “self-sanctions” by the industry.
According to Bloomberg sources, the new package will also be changed in adjusting the rules for the transit of sanctioned goods in Kaliningrad.
G7 leaders are also considering options to cap the price of Russian oil, including using a ban on services like insurance for the consumption of oil and petroleum products, unless the oil is purchased at or below an agreed price. However, in the near future, this mechanism of operation will not yet be a disaster. A number of EU countries are identifying tougher sanctions, including against the US on gas, but so far there are no Common Solutions among the countries due to the threat of shortages and rising prices for this fuel. Instead, in the near future, special attention is likely to be expanded and expanded rapidly, such as restricting the export of technology, as well as confinement against Russian oligarchs and organizations, agency sources say.
Countries have almost used up the now frozen 14 billion euros of assets owned by Russians under EU sanctions, writes Bloomberg, citing sources.