President of the European Commission, Ursula von der Leyen reported that the tenth round will mainly focused on closing the loopholes.
According to a news report by senior diplomats from Poland and Lithuania, the tenth package of EU sanctions on Russia and Belarus would include some restrictions on countries that violate those penalties, claims “Rzeczpospolita,” Poland’s top business and legal daily.
The following restrictions are anticipated to form part of the tenth EU sanctions on Russia.
- Restrictions on Russia’s nuclear business, including the identification of Rosatom and its executives (a move Hungary has so far refused; the nation has contracts with Rosatom for two atomic reactors); a complete ban on collaboration with the Russian nuclear industry has to comply with it.
- The extension of the dual-use goods prohibitions (likely, further extension of the list of dual-use items); cutting off additional Russian banks from SWIFT; banning different Russian media outlets;
- They are lowering the Russian oil price cap, new regulations, and prohibition the trade in diamonds. It still needs to be covered by the luxury goods prohibitions due to Belgium’s prominent role in the diamond industry.
Interviewees for the research acknowledged that getting new sanctions packages approved by all EU member states with the necessary peace is difficult.
According to the unnamed senior diplomats, the tenth round of sanctions should be ready by February 24, 2023, during the first anniversary of Russia’s invasion of Ukraine.
EU has been imposing sanctions on Russia since 2014 for the annexation of Crimea. Sanctions on Russia primarily suppress its ability to carry out further aggression.
On February 24, the war will mark its first anniversary. Despite receiving support and armaments from NATO and the US, Russia has seized 20% of Ukrainian territory. Its ongoing missile attacks over Ukrainian homes have destroyed the nation’s infrastructure.
It is estimated that more than $200 billion will be needed to repair the harm caused by Russian aggression. The economic penalties are intended to hold Russia accountable for its conduct and to obstruct Russian efforts to lengthen the attack successfully.