The European Union on Friday formally adopted its fifth package of sanctions against Russia, including bans on the import of coal, wood, chemicals and other products. However, the ban on coal imports will be fully effective from the second week of August. No new contracts can be signed from Friday, when sanctions are to be published in the EU’s official journal.
The new measures also forbid the Russian vessels and trucks from accessing the EU, which is expected to further affect the Russian trade. At the same time, all transactions with four Russian banks, including VTB, are banned.
In addition to coal, EU sanctions also block imports of wood, cement, fertilizers, seafood and alcohol, worth an estimated € 5.5 billion a year. The EU has also blocked exports of fuel for aircraft, semiconductors, electronics, software and transport equipment or machinery.
“These latest sanctions were adopted following the atrocities committed by Russian armed forces in Bucha and other places under Russian occupation,” EU’s top diplomat, Josep Borrell, said in a statement.