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Details Of 12th Package Of Sanctions Against Russian Federation Revealed In Lithuania

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Details Of 12th Package Of Sanctions Against Russian Federation Revealed In Lithuania

Details.

In the 12th package of sanctions against the Russian Federation, the European Union is to stipulate for EU companies responsibility for the transfer of their goods. And also control of financial flows outside the bloc for some of them.

This was stated by Lithuanian Vice-Minister of Foreign Affairs Jovita Neliupšienė, LRT reports.

She emphasised that the forthcoming package of sanctions would present "more serious problems for business".

"The twelfth package of sanctions will actually have more serious consequences for business, despite that the sanctions are directed against Russia. There will be an obligation to strengthen responsibility in the entire chain of trade," she said.

She specified that the requirements, according to which the buyer undertakes not to sell or export sanctioned goods to Russia, as well as to demand certain guarantees, will have to be spelled out in the contracts.

According to her, the 12th package of sanctions against Russia will limit services in the sphere of high and information technologies, as well as restrictions in the laser industry.

On November 15, the head of the European Union diplomacy Josep Borrell and the European Commission presented to the EU member states proposals for the 12th package of sanctions against the aggressor country Russia. The document proposes to impose sanctions against 120 more individuals and legal entities. The proposal also includes new bans on imports and exports of the Russian Federation, the fight against circumvention of EU sanctions and greater restriction of the price ceiling on oil.

Bloomberg reported that the European Union, as part of the 12th package of sanctions against Russia, proposed to ban exports of machine tools and machine parts that Russia uses to make weapons against Ukraine.

Bloomberg also reported that the 12th package of sanctions would hit trade with Russia by about 5.3bn dollars.

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