• 12/04/2024 20:14

The EC demands that governments close loopholes in anti-Russian sanctions and promises to tell where they are evading them

European Commissioners sent a letter to members of the bloc and stated that they would contact the capitals by mid-April to assess the measures taken.

EC demands governments to close loopholes in anti-Russian them

European Commissioner for financial services Mairead McGuinness

The European Commission has demanded that governments urgently stop the illegal flow of goods into Russia amid a push from Brussels to take control of closing loopholes in sanctions against the Kremlin.

Politico writes about this with reference to a letter from the institution.

The EC warned countries of the need for “immediate, concerted and firm action from all of us.”

European Commissioner for Financial Services Mairead McGuinness and European Commissioner for Trade Valdis Dombrovskis, who signed the letter, said they would soon share “detailed information” about where companies are evading sanctions.

They said they would contact capitals before mid-April to assess the measures taken.

McGuinness will also discuss the letter with ministers at the sanctions meeting on February 13.

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Although sanctions are agreed upon at EU level, governments are responsible for their implementation under the supervision of the Commission. In December, the bloc's countries approved new restrictions against Russia and are working on the following.

The letter instructs governments to “hold accountable EU operators who actively undermine EU sanctions wherever they are active” and deter companies from exploiting loopholes in sanctions by publishing the “most significant” cases and corresponding punishments.

McGuinness also advises member states to contact companies involved in the production of sanctioned goods and force them to more thoroughly check their supply chains for compliance with EU sanctions rules.

“National authorities should share more information about companies and non-EU individuals who may be involved in exploiting sanctions loopholes and should be “particularly vigilant” about sanctions exceptions that could exacerbate the problem, the letter said.

    < li>The BBC reported that a loophole in refining rules was allowing Russian oil to find its way into the UK despite sanctions, netting the Kremlin more than £100 million in tax revenue.
  • On 18 December 2023, the EU Council adopted twelfth package of economic and individual restrictive measures.The EU against Russia, in particular, introduced a ban on the direct or indirect import, purchase or transportation of diamonds and strengthened control over compliance with restrictive measures.
  • Then Deputy Head of the Office of the President Igor Zhovkva announced that the European Union had begun work on the 13th package of sanctions.

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