EU ADOPTS EIGHTH PACKAGE OF SANCTIONS AGAINST RUSSIA
On 6 October, the Council adopted the eighth package of hard-hitting sanctions against Russia for its aggression against Ukraine.
The package introduces, among other things, additional export restrictions, including the banning of the export of coal including coking coal (which is used in Russian industrial plants), specific electronic components (found in Russian weapons), technical items used in the aviation sector, as well as certain chemicals. A prohibition on exporting small arms and other goods under the anti-torture Regulation was also added. The Council further agreed on almost €7 billion worth of additional import restrictions, for example, a ban on the import of Russian finished and semi-finished steel products (subject to a transition period for some semi-finished), machinery and appliances, plastics, vehicles, textiles, footwear, leather, ceramics, certain chemical products, and non-gold jewellery.
The package also marks the beginning of the implementation within the EU of the G7 agreement on Russian oil exports. While the EU's ban on importing Russian seaborne crude oil fully remains, the price cap, once implemented, would allow European operators to undertake and support the transport of Russian oil to third countries, provided its price remains under a pre-set “cap”.
The geographical scope of the restrictive measures in response to the recognition of the non-government controlled areas of the Donetsk and Luhansk oblasts of Ukraine and the ordering of Russian armed forces into those areas has been extended to cover all the non-government controlled areas of Ukraine in the oblasts of Donetsk, Luhansk, Zaporizhzhia and Kherson.
The package also covers sanctions on additional individuals and entities, restrictions on state-owned enterprises, and sanctions relating to financial, IT consultancy and other business services.
Source and more information: EU Council