European Commission President, Ursula von der Leyen, announced on Saturday during her visit to Kiev, that the European Union (EU) is preparing to impose new economic sanctions on Russia.
These sanctions extend to companies outside the EU that are circumventing existing sanctions.
Von der Leyen added that the new measures also include additional restrictions on imports and exports, and a stricter cap on oil prices.
For a long time, many in Europe believed that trading with Russia and integrating the country into the European security system was possible, she mentioned in her speech at the Ukrainian parliament.
Last week, numerous high-ranking officials in the EU indicated plans to restrict trade in Russian diamonds. Also on the table is a ban on the import of so-called dual-use goods – materials that can be used for both civilian and military purposes.
This could encompass a prohibition on importing aluminum and restrictions on exporting other goods. Ukrainians have, at times, discovered tiny chips in Russian missiles that are typically installed in refrigerators.
Various punitive measures have long been applied against Russia due to its war against Ukraine. This includes a wide-ranging ban on imports of crude oil, coal, steel, gold, and luxury goods, along with punitive measures against banks and financial institutions.
Earlier on Saturday in Kyiv, Von der Leyen praised the reforms in Ukraine, just days before she is to present a significant report on Ukraine’s progress on the path to EU accession.
Von der Leyen arrived in Ukraine on Saturday morning for her sixth visit since Russia launched its comprehensive attack against Ukraine nearly 20 months ago. She acknowledged Ukraine’s serious efforts and the substantial progress made in updating its economy.
