New EU sanctions package to include over 200 individuals, firms

More than 200 individuals and companies may be included in the 13th package of anti-Russia sanctions that is being readied by the European Union, the DPA news agency reported citing sources.

The EU’s new sanctions package envisions a major expansion of the list of persons and entities whose assets should be frozen in the European Union, according to the agency. Moreover, other companies that help Russia bolster its military and technological capabilities or develop the country’s defense sector and security, are to be blacklisted as well. They will no longer be allowed to sell military-related goods and technologies from the EU.

Specific proposals on the 13th package of sanctions were presented by high-ranking officials from the European Commission to representatives of member-states over the weekend, the agency said. The next step is to draft a resolution on the sanctions, after which it must be officially greenlighted by all 27 members of the organization.

Apart from the 13th package of sanctions, a decision may be made on the long-planned confiscation of revenues from the Russian Central Bank’s frozen funds for transfer to Ukraine, DPA noted. The first step of the proposed plan is to separate the revenues from the assets of the Bank of Russia. As the second step it is planned to pass a portion of the funds over to Ukraine, according to diplomats. However, to do this, further legal measures are necessary. According to some estimates, the amount may reach billions of euro a year as more than 200 bln euro worth of funds of the Bank of Russia are frozen in the EU, according to the European Commission, while revenues from stored capital are always on the rise.