EU Targets Russian Gold In New Sanctions – Looks To Tighten Imports Of Goods For Military Purposes

The European Commission, the executive arm of the EU, on Friday introduced its latest package of sanctions against Moscow for invading Ukraine.

The sanctions include an import ban on Russian gold and legal tweaks to prevent current measures from hampering food shipments.

"Today's package will introduce a new import ban on Russian gold, while reinforcing our dual use and advanced technology export controls," the Commission said in a statement.

See Also: Vladimir Putin Has A Clock Ticking, Says Former Advisor To 3 US Presidents: 'People Would Actually Like An Alternative.'

"In doing so, it will reinforce the alignment of EU sanctions with those of our G7 partners. It will also strengthen reporting requirements to tighten EU asset freezes," it said.

The officials are unofficially referring to it as a "sixth-and-a-half" set of sanctions, according to Reuters, for its limited scope compared with six previous rounds of sanctions imposed on Russia.

The sanction will become law only after the EU governments agree on the measures. Ambassadors are due to meet on Monday and then on Wednesday for possible approval.

The publication noted that the EU would also tighten existing sanctions against Russia, with new curbs on Russian imports of goods that could be used for military purposes, including chemicals and machinery.

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