New EU sanctions package against Russia expected by February 24 – Euractiv

Euractiv reported this, citing a source in diplomatic circles, according to an Ukrinform correspondent.

“Finland and Sweden have urged the Commission to prohibit exports of luxury items to Russia, outlaw the servicing of Russian oil tankers and cut EU import quotas for Russian fertilisers,” the publication writes.

Luxury goods priced above €300 are already subject to sanctions, but many high-end European brands – including Gucci, Bottega Veneta, and Yves Saint Laurent – are still sold in Russia, at a steep mark-up, the article explains.

Many goods are re-exported to Russia from China, Turkey, and other third countries.

“A diplomat said the EU’s 20th sanctions package was expected by 24 February, the fourth anniversary of the war,” the outlet writes.

As previously reported by Ukrinform, Ukraine’s Foreign Intelligence Service stated that exports of Russian oil are becoming increasingly difficult, while growing volumes of crude without end buyers indicate a systemic crisis in Russia’s oil sector caused by sanctions pressure.

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