They will reportedly include a ban on gold imports

The European Commission (EC) is set to adopt its seventh package of Ukraine-related sanctions against Russia on Friday, Reuters reports, citing sources. It will reportedly contain a ban on the import of Russian gold into the EU and through third countries.

The sources highlighted that Brussels will also tighten certain previous restrictions, including placing new curbs on the import of goods that could be used for military purposes, such as chemicals and machinery.

New individuals and entities considered close to the Kremlin will reportedly be added to the EU blacklist mandating asset freezes and travel bans.

The EC will also amend the previous punitive measures to make sure they do not hit Russia’s food and grain exports, several officials told Reuters.

Some of the proposed changes are also meant to ensure that existing restrictions – such as the ban on Russian ships accessing EU ports – are not misinterpreted by entities conducting trade, one of the sources said. The port ban, for example, already allows Russian ships carrying food or medicines to enter EU ports.


READ MORE: EU takes aim at Russian gold – Bloomberg

Meanwhile, while clarifying that Russian vessels laden with food and medicine can enter ports, for other ships the ban is expected to be tightened by preventing such ships from offloading their cargoes at outer docks, thus bypassing sanctions, the sources noted.

EU envoys are set to discuss the new package next week for final approval before the summer break, according to Reuters.

For more stories on economy & finance visit RT’s business section

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