Russia’s quid pro quo: EU’s 16th sanction package altered ahead of enforcement?
Speculations of a phase-wise ban revolve around the European Union’s 16th sanction package against Russia as the date of implementation draws near. Russia, which has been at gunpoint since its invasion into Ukraine.
Opposing the Russian Federation’s annexation of Crimea and Sevastopol in 2014, a political call by the Russian Federation to recognise Donetsk and Luhansk oblasts as independent entities (followed later by Kherson and Zaporizhzhia), and the Russian Federation’s full-scale invasion of Ukraine on February 24, 2022, the EU introduced a series of trade-related restrictive measures (till date 16) known as sanction packages.
The 16th sanctions package, circulated among member states this week, proposes measures that would cut approximately 15 banks off from the SWIFT banking system. It also targets over 70 dark-fleet vessels involved in shipping Russian oil. This specific sanctions package would permit European buyers to import Russian metal under a quota system for one year before a complete ban takes effect, according to sources who spoke on condition of anonymity.
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