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The new package of EU sanctions against Russia will come into force on Saturday


June, 23 2023
watermark Economic news

The European Union has published the 11th package of sanctions against Russia, which will come into force on Saturday, June 24. Earlier it was reported that the new package is aimed at fighting against circumvention of restrictive measures.


As part of the new measures, the EU is tightening restrictions on Russian individuals and legal entities, including high-ranking military officials, entrepreneurs and IT companies that cooperate with Russian intelligence and structures working with the armed forces of the Russian Federation. 


Temporary permits for Germany and Poland to import Russian oil through the Druzhba pipeline are also being canceled. 


The list of restrictions also includes organizations supporting the Russian military-industrial complex, and stricter restrictions are being imposed on the export of dual-use goods and advanced technologies. 


The bans apply to the transit of goods through Russia, including aviation materials and luxury cars. The European Union also prohibits the import of steel products and products made using metal from Russia. 


In addition, the suspension of broadcasting licenses for several Russian media outlets is being extended: RT Balkan, Oriental Review, New Eastern Outlook, Tsargrad and Katekhon.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.