The Impact of New Sanctions Against Russia Will Be Heavier This Time: The Affected Sector Revealed

The European Commission will soon present the 12th package of sanctions against Russia for approval by the Council of the European Union. This was announced today by the head of European diplomacy, Josep Borrell, during a press conference following a meeting at the level of the Union's foreign ministers.

Borrell clarified that the draft announced must be agreed upon in a planned meeting by the European Commission within two days, after which it will be submitted for approval. He stated that the work on the sanctions package is nearly complete. The measures will specifically include personal sanctions as well as economic and sectoral restrictions.

The package will involve an expansion of the blacklist, export restrictions, including measures tightening the price cap on Russian diamonds and oil, as well as actions against circumventing the sanctions. Specifically, the measures may affect the Russian diamond producer Alrosa, which is already under sanctions from the U.S. and the U.K., a decision that could reduce revenue and increase logistics costs.