BRUSSELS: The 27 ambassadors of the European Union endorsed a number of measures to restrict the export of some high-tech goods and prohibit the import of gold, which brought the European Union one step closer to putting additional sanctions on Russia.
The new measures which is currently in charge of the EU, "will align the EU with G7 partners, reinforce implementation, and plug loopholes where appropriate." If national capitals do not object by early Thursday, it will be published in the official journal, at which point the specifics of the restricted package will be made public.
In the hopes that the vast package of sanctions against Russia will finally start to have a significant impact on the conflict in Ukraine, EU officials have been working all week to strengthen the penalties and consider adding a ban on gold exports.
The ambassadors achieved a breakthrough on Wednesday. Josep Borrell, the head of the EU's foreign affairs department, stated on Monday that the ban on Russian gold, which is Moscow's second-largest export after energy, is currently "the most crucial item."
The G-7 group of major industrialised countries agreed to a gold ban last month, claiming that Russia had used its gold to back up its currency to avoid the effects of the numerous rounds of sanctions that other countries had previously placed on Moscow for its invasion of Ukraine on February 24. In addition to the sanctions, the EU has made the decision to provide military assistance to Ukraine by 500 million euros.
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