EU Initiates Sanctions Approval Process, Includes Ban On Russian Diamond Supplies

In a move reflecting the European Union’s continued stance on sanctions against Russia, the EU has initiated the written procedure for the approval of its 12th package of sanctions.

In a move reflecting the European Union’s continued stance on sanctions against Russia, the EU has initiated the written procedure for the approval of its 12th package of sanctions. The comprehensive set of measures includes, among other things, a ban on the supply of Russian gem diamonds to member states of the Union. A source within the EU institutions in Brussels provided this information to TASS on December 17.

According to the source, “The written procedure has been initiated, it will not take long, sanctions will come into force shortly, early next week at the latest.” This signals the swift progression of the approval process, indicating that the sanctions are poised to take effect in the immediate future.

The approval procedure gained momentum after Austria’s sanctions reservation was lifted. Austria had been pushing for the removal of Raiffeisen Bank International from a Ukrainian blacklist referred to as “international sponsors of war.” This list aimed to publicly shame companies engaged in business in Russia, alleging that they were indirectly supporting the war effort through activities such as tax payments.

Reuters confirmed Austria’s approval of the 12th package of EU sanctions on Russia after Ukraine removed Raiffeisen Bank International from its blacklist. The removal of this Austrian bank from the Ukrainian list appears to have played a pivotal role in Austria’s endorsement of the broader EU sanctions.

The specific inclusion of a ban on Russian gem diamond supplies underscores the EU’s intent to target various sectors in its sanctions regime. This move aligns with the EU’s commitment to applying pressure on Russia in response to perceived violations of international norms and ongoing geopolitical developments.

The initiation of this sanctions package highlights the EU’s continued reliance on diplomatic and economic measures as tools for addressing concerns related to Russia. The comprehensive nature of the sanctions, involving a ban on gem diamond supplies, indicates a multifaceted approach aimed at influencing Russia’s behaviour and actions on the international stage.

The EU’s sanctions strategy is a reflection of its collective response to geopolitical events, and the measures taken against Russia have been a consistent aspect of this approach. As diplomatic and geopolitical tensions persist, the EU remains steadfast in employing sanctions as a means to convey its stance and influence Russia’s conduct.

The upcoming enforcement of the 12th package of sanctions against Russia is likely to have broader implications, not only for the economic relations between the EU and Russia but also for the overall geopolitical landscape. The move will undoubtedly prompt reactions and responses from both Russian authorities and international actors, shaping the dynamics of future interactions.