On 18 December, the European Union adopted a new package of sanctions, stepping up restrictive measures against Russia. The package imposes additional restrictions on Russia’s economy and 147 individuals and entities are added to the sanctions list.
“Estonia and the European Union continue to work towards making the sanctions as strict and effective as possible and ensure they affect the sectors that Russia relies on the most in financing its aggression against Ukraine,” Foreign Minister Margus Tsahkna said. He added that the work on the most recent package of sanctions concentrated on Russia’s energy carriers, metalworking industry and diamond business.
Tsahkna underlined that we must continue raising the cost of the war for Russia for as long as necessary and the exchange of ideas on new sanctions has already begun among like-minded member states. “Estonia and the European Union will not stop until Ukraine has won this war and Russia and its leadership have been held accountable for their actions.”
For the first time, the package includes trade restrictions on Russian diamonds and jewellery that contain them, on LPG, certain metals and hi-tech goods, including laser technologies, drone components and software.
With its 12th package of sanctions, the European Union is making it more difficult for Russia to circumvent existing sanctions. For example, a ban on transit through Russia to third countries was expanded to include certain military-use goods that have an important role in Russia’s economy.
Companies selling critical goods used in the war are now also obligated to add a condition in contracts banning the transport of the goods on to Russia.