The European Union Council has adopted a 12th package of sanctions against Russia, the European Commission said in a statement on Monday, after Austria gave its final approval over the weekend.
The package focuses on a Russian-origin diamond import ban as well as imposing additional import and export bans on Russia, combating sanctions circumvention and closing loopholes, it said.
Russian diamond producer Alrosa declined to comment on the 12th EU sanctions package.
The package also tightens compliance rules for those buying Russian oil via the G7 price cap mechanism.
However, EU countries watered down an initial proposal to ban the sale of old oil tankers to Russia or Russia-linked firms to a “notification” procedure.
The package includes a notification system for funds transferred outside the EU by a Russian national living in Russia or Russian entity established in the bloc.
In addition, the package introduces a new import ban on liquefied petroleum gas (LPG) with a one-year transition period as well as a list of metal products, including “pig iron and spiegeleisen, copper and aluminium wires, foil, tubes and pipes for a total value of 2.2 billion euro (US$2.40 billion) per year”.
India asks US to release funds frozen over suspected Russia diamond link
India asks US to release funds frozen over suspected Russia diamond link
The package also added 140 additional individuals and entities as subject to asset freezes, including actors in the Russian military and defence industry and IT sector as well as private military companies.
The Ukrainian blacklist temporarily removed the bank pending discussions with the European Commission. The Commission declined to comment on the matter on Monday.