Kyiv, 19 December 2023 (TDI): Ukrainian President Volodymyr Zelenskyy said on Monday that the new EU sanctions “will truly reduce” Russia’s economic foundation for war against his country.
“We will continue to work with our partners to ensure that the sanctions imposed by Europe work globally,” he added.
According to a statement released by the Delegation of the European Union to Ukraine, the 12th package of the sanctions by the EU adopted on Monday includes an import and export ban on Russian-origin diamonds and closed loopholes that Russia could use to avoid EU’s punitive measures.
According to the reports, the EU is putting into effect a “No Russia clause” that mandates exporters operating within the EU to contractually restrict the re-exportation to Russia of any item on a list of “sensitive goods and technology” to prevent Russia from maintaining its military hardware,”.
Russian diamond producer ALROSA declined to comment on the 12th EU sanctions package.
Additionally, the package makes it difficult for those who purchase Russian oil through the G7 price cap system to comply.
According to the EU Delegation to Ukraine, the sanctions aim, “to deprive Russia of this important revenue stream estimated at €4 billion per year.”
Adding, “All G7 members will implement a direct ban on diamonds exported from Russia at the latest by 1 January 2024.”
Russia’s diplomatic mission to the EU responded to the latest round of sanctions on Monday by stating that the EU’s need to impose a new punitive package demonstrated that the sanctions against the Russian economy had failed.
“The Russian economy is not ‘torn to shreds,’ attempts to isolate us on the international stage, including the Brussels platform, have failed miserably, the goal of ‘inflicting a strategic defeat’ has not been achieved,” the mission said in a statement.