The European Union has adopted the twelfth package of sanctions against Russia

On Monday, the European Union accepted the twelfth package of sanctions against Russia, imposed over the attack on Ukraine in February 2022.

The new package includes a ban on the direct or indirect import, purchase or transfer of diamonds from Russia. This ban applies to diamonds originating in Russia, diamonds exported from that country, diamonds transiting through Russia and Russian diamonds processed in third countries.

Moreover, Brussels decided to introduce an embargo on the import of Russian LPG, allowing a transition period of twelve months. Furthermore, it was indicated that the EU would strengthen the ban on the export of sensitive technologies and goods to the Russian Federation and expand the list of dual-use items.

It is believed that one of the sources of Moscow’s financing of the war in Ukraine is the lucrative diamond trade, which generates an annual turnover of four to five billion dollars.

EU sanctions against Russia

The EU last imposed sanctions on the Russian Federation at the end of June over its attack on Ukraine.

In October, US President Joe Biden met at the White House with European Commission President Ursula von der Leyen and European Council President Charles Michel. After the US-European Union summit in Washington, the parties published a joint statement. The document states, among other things: about Ukraine and entities supporting Russia.

Washington and Brussels have announced that they will fight third-country entities that support the Russian Federation in its armed aggression against Ukraine. US and EU political leaders announced that joint action would be taken in this regard. “We will deepen our joint work to undermine Russia’s ability to fight its war. (…) Those who help Russia obtain parts and equipment for its arms industry support actions that undermine the territorial integrity, sovereignty and independence of Ukraine,” we read. .

Record military expenditure

At the end of November, Russian President Vladimir Putin signed the 2024 budget of the Russian Federation, significantly increasing federal spending. A record amount was allocated to defense.

According to analysts at the Institute for War Studies, the document’s report shows that Russian spending next year will reach $412.5 billion and the budget deficit will reach $9.5 billion.

The Russian government plans to spend about $157.5 billion on defense and law enforcement, which amounts to 39 percent. all federal government expenditures.

Source: Do Rzeczy