New European Sanctions Against Russia Approved
Russia will work to minimize the impact of the latest European sanctions, government spokesman Dmitry Peskov stated on Friday. This announcement came following the European Union’s approval of its 18th sanctions package in response to the ongoing conflict in Ukraine., reports 24brussels.
Peskov noted that the new sanctions package will need to be carefully analyzed to mitigate its effects. He described the sanctions as a “double-edged sword,” emphasizing that they adversely affect not only Russia but also the nations enforcing them.
The Kremlin continues to consider the sanctions illegal and has committed to resisting them. Peskov highlighted that Moscow has developed a degree of “immunity” over recent years, claiming, “We have adapted to life under sanctions.”
On Friday, European Union member states reached a consensus on the new sanctions package, deemed by EU foreign affairs chief Kaja Kallas as “one of the toughest to date.” This comes in light of intense scrutiny on Russia since its invasion of Ukraine in February 2022.
The new sanctions primarily target Russia’s oil revenue, proposing to reduce the price cap on oil exports to $47.6 per barrel. Furthermore, penalties will be imposed on an additional 105 vessels associated with Russia’s shadow fleet, which evades the existing price cap.
Furthermore, the sanctions package prohibits imports of refined products derived from Russian crude oil and aims to block any attempts to resume operations of the Nord Stream I and II gas pipelines. Transactions with the international payment system SWIFT will also be banned for more than twenty additional Russian banks.
China’s Reaction
This sanctions package includes escalated measures against companies and organizations from third-party countries accused of assisting Russia in circumventing sanctions or supporting its military sector. Notably, seven Chinese entities are now included in the sanctions list, which has prompted a critical response from Beijing.
China’s Ministry of Foreign Affairs spokesperson Lin Jian stated that Europe should cease harmful actions against Chinese companies without substantiated reasons. He asserted that the Chinese government will implement necessary measures to safeguard domestic corporate interests.
