EU set to hit Russia, Iran with new sanctions

(BRUSSELS) - The EU signalled a 10th package of sanctions on Russia Wednesday, with export bans worth more than EUR 11 billion and controls on electronic components used in Russian weapons systems.

With Russia's brutal war of aggression, in which it has targetted civilians, now over a year old, the EU made clear its intention of making Russia pay.

"For almost one year now, Russia's war of aggression has been sowing death and destruction. Putin is not only waging a brutal war on the battlefield but he is also viciously targeting civilians," said Commission president Ursula von der Leyen. "For maximum impact, we are targeting many industrial goods that Russia needs, and that it cannot get through backfilling by third countries," she added.

This includes goods such as electronics, specialized vehicles, machine parts, spare parts for trucks and jet engines. The EU is also targeting goods for the construction sector which can be directed to Russia's military, such as antennas or cranes. The export of dual use goods and advanced tech goods will be targetted, with controls on 47 new electronic components that can be used in Russian weapons systems, including drones, missiles, helicopters.

Also targetted will be specific rare earth materials and thermal cameras, meaning the EU will have banned all tech products found on the battlefield.

For the first time ever, the EU is to add third country entities to the Russia dual use sanctions. With Iran's Revolutionary Guards providing Russia with Shahed drones to attack civilian infrastructure in Ukraine, the EU is adding seven Iranian entities to its our dual use regime. These are now under a complete ban to sell sensitive items to Russia.

The EU has signalledf that it stands ready to list further Iranian and other third country entities that are providing sensitive technology to Russia. "This should act as a strong deterrent to other companies and international traders," said Ms von der Leyen.

Finally, responding to Russia's "army of propagandists and disinformation networks", the Commission is proposing to list Putin's propagandists as well as additional military and political commanders.

To ensure the new sanctions are strictly applied, the new package introduces new measures to prevent circumvention. This includes tracking oligarchs trying to hide or to sell their assets to escape sanctions, as well as setting up an overview of all frozen assets of the Russian central bank held in the EU.

"Our aim is to have, together with our G7 partners, further significant sanctions in place by February 24 - exactly one year after Putin launched his imperial war."