28 Sep 2022 18:08

EC proposes new export restrictions, banning European nationals from sitting on governing bodies in Russian state-owned companies

BRUSSELS. Sept 28 (Interfax) - The European Commission (EC) proposes new restrictions on exports to Russia as part of renewed sanctions imposed on Russia, and discussing the imposition of a cap on Russian oil prices, European Commission President Ursula von der Leyen said on Wednesday.

"We are also proposing to expand the list of products that cannot be exported to Russia anymore. The aim is here to deprive the Kremlin's military complex of key technologies. For example, this includes additional aviation items or electronic components and specific chemical substances," she said.

The EC will also propose an additional ban on providing European services to Russia and a prohibition of EU nationals to sit on governing bodies of Russian state-owned companies, she went on to say.

"In this package we are laying the legal basis for this oil price cap," she added, noting that this initiative had earlier been agreed upon by the G7 countries.

Von der Leyen said the oil price cap should be applied by other countries outside the EU. At the same time, she noted that a ban on Russian oil exports by sea to the EU will take effect in the EU on December 5.

Additionally, the EC proposes new import restrictions on a number of goods from Russia, which would deprive Russia of 7 billion euros in revenue, she said.

For his part, EU foreign policy chief Josep Borrell said that the EC was proposing to expand the sanctions list. He expects that, in particular, the organizers of the referenda on the accession of the Donetsk and Luhansk People's Republics, and the Kherson and Zaporizhzhya regions to Russia will be sanctioned. Borrell said that high-ranking officials from the Russian Defense Ministry had also been added to the sanctions list drawn up by the EC.