EU Poised to Expand Sanctions on Russia, Including Wood Import Ban

The European Commission is proposing a fifth package of sanctions against Russia, Commission President Ursula von der Leyen said on Tuesday (4-5-22). The package would expand sanctions on Russian banks, block Russian vessels from EU ports, ban targeted exports and imports, and prohibit participation of Russian companies in public procurement.

The new import bans would include wood products, von der Leyen said. The bans would “cut the money stream of Russia and its oligarchs, on products from wood to cement, from seafood to liquor.” She added that the ban seeks to “close loopholes between Russia and Belarus.”

The Commission estimated the total worth of the banned imports to be EUR 5.5 billion.

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