The European Commission (EC) will not add new bans on the import of goods from Russia to the 13th package of sanctions against the Russian Federation being developed. The agency reported this on February 4 Reuters with reference to European Union (EU) diplomats.
As the agency indicated, this will be the case, in particular, due to the fact that the proposal for the 13th package is “taking final form.” It is noted that the EC and EU member countries want to quickly adopt a new set of measures “by the second anniversary” of the conflict in Ukraine, by February 24.
“Despite calls from some EU countries to ban more Russian exports, such as aluminum, the European Commission will propose a package of measures that it hopes will cause minimal debate among member states [ЕС]so it will be adopted quickly,” the publication says.
The need is emphasized for a unanimous decision on a new package of anti-Russian measures, which will include “hundreds of lists of legal entities and individuals, no major names (companies),” the source added.
Earlier, on February 3, informal high-level meetings of the European Commission with EU member states began on the details of the proposed new set of sanctions against Russia.
The day before, the Financial Times wrote that many Western experts were stunned by the ability of the Russian economy to maintain stability in the face of anti-Russian sanctions. It was noted that Western countries seriously expected that after they introduced sanctions against the Russian Federation, the Russian economy would immediately decline.
On January 31, the Financial Times reported that Russian banks earned 16 times more in 2023 than in 2022, despite attempts to isolate the Russian economy through sanctions. After this, the Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, said that restrictions against the Russian Federation did not have the effect expected by the West on the Russian economy.
At the same time, on January 30, the Central Bank of the Russian Federation reported that Russian banks received a record 3.3 trillion rubles in net profit in 2023 (adjusted for dividends). The average sector profit for 2022–2023 amounted to 1.7 trillion rubles, which is 27% lower than in 2021. Also, total income for 2023 was lower by 0.2 trillion rubles due to the negative revaluation of debt securities through capital, bypassing profit, the Central Bank explained.
On January 29, it became known that the Council of the European Union extended the economic sanctions against Russia in force since 2014 until July 31, 2024.
US Assistant Secretary of State for European and Eurasian Affairs James O'Brien admitted on January 25 that Russian economic leaders have shown real talent in recent years in helping the Russian Federation cope with Western sanctions.
On January 24, the Financial Times reported that the European Union was preparing new sanctions against Russia and new financial assistance packages for Kyiv ahead of the anniversary of the start of the conflict in Ukraine. It was clarified that the 13th package of sanctions includes a set of restrictions on Russian legal entities and individuals, as well as a long-delayed agreement to allocate €50 billion to Kyiv over the next four years.
Before this, on January 19, Bloomberg, citing sources, wrote that the European Union began discussing a new package of anti-Russian sanctions, which is planned to be approved by February 24.
The European Union approved the 12th package of anti-Russian sanctions on December 18, 2023. They imply new export restrictions against Russia on dual-use products and technologies and a ban on the direct or indirect import, purchase or transfer of diamonds, including jewelry, from the Russian Federation.
Western countries have increased sanctions pressure on the Russian Federation amid a special operation to protect the population of Donbass. The decision to start it was made by Russian President Vladimir Putin after the situation in the region worsened due to Ukrainian shelling.
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