13 Nov 2023 20:49

Borrell plans to present proposals on 12th Russia sanction package on Nov 15

BRUSSELS. Nov 13 (Interfax) - High Representative of the European Union for Foreign Affairs and Security Policy and European Commission Vice President Josep Borrell plans to submit his joint proposals on the 12th Russia sanction package together with the European Commission on Wednesday, which, in particular, could include restrictions on Russian diamonds and measures tightening the Russian oil price cap.

"We are finalizing the work on the 12th package of sanctions. You know sanctions on the one side are personal sanctions and on the other side are economic and sectoral sanctions," Borrell said at a press conference following an EU Foreign Affairs Council meeting.

"This Council regulation could be approved on Wednesday on a joint proposal by me and the Commission to the Council," he said.

"The proposal includes new listings, new export bans, among them about diamonds, actions to tighten the oil price cap [...], fighting against circumvention," he said.

Bloomberg reported earlier citing sources with knowledge of the situation that the European Union was discussing new sanctions on Russia estimated at about 5 billion euros, including export restrictions on chemicals and technologies.

The EU imposed its previous sanction package on Russia in June 2023.