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HomeLatest News"Sanctions are vegetarian": the expert assesses the ninth package of bans adopted...

“Sanctions are vegetarian”: the expert assesses the ninth package of bans adopted by the Council of the EU

Date: January 28, 2023 Time: 07:08:57

But in addition to prohibitions, there are also concessions. The European Union has approved the unfreezing of the Russian assets of individuals and companies involved in the Russian grain and fertilizer trade.

Photo: REUTERS

Daily News. The Council of the EU adopted the ninth package of sanctions against Russia. The most significant points of the new document are the following:

– Suspension of the broadcast licenses in Europe of NTV, NTV Mir, Russia 1, REN TV and Channel One.

– Prohibition for companies registered in the EU to provide advertising services, market research, opinion polls and product testing.

– Sanctions against 168 organizations and companies associated with the military-industrial complex (the list has not yet been published).

– Ban on exporting engines and their parts for the aeronautical and space industry, including drone engines.

– Blocking of transactions of the All-Russian Bank for the Development of Regions.

– Personal sanctions against “a significant number of natural and legal persons” (the list has not yet been published).

– Prohibition of EU citizens from holding positions in the governing bodies of all organizations owned or controlled by the Russian authorities.

– The European Union imposed a ban on investments in the mining and energy sectors of the Russian Federation, as well as consulting services for Russian companies.

– The EU has prohibited its citizens from holding positions in state bodies or state-controlled organizations in Russia.

But in addition to prohibitions, there are also concessions. The European Union approved the unfreezing of the Russian assets of individuals and companies involved in the Russian grain and fertilizer trade.

We asked Georgy Ostapkovich, director of the Center for Market Research at the Higher School of Economics, what all this means for our economy.

– In general, the sanctions are vegetarian, – Georgy Ostapkovich believes, – and will not greatly affect the Russian economy. But let’s go over the individual bans.

The most anticipated. These are sanctions against television companies. There is not much damage here. Except that those European viewers who wanted to see our news will no longer see it.

The heaviest. They are prohibitions related to the mining industry.

– Investments will be stopped, but it should be noted that Western countries have invested a lot of money in our mining, – explains the expert. – Especially in rare earth metals: titanium, lanthanum, etc. This is a serious export product. This ban will not hit the economy hard, but it will affect mining companies associated with foreign investment.

The most unexpected. As for freedom for fertilizer and grain companies, the expert’s comment is unequivocal. The Europeans have lifted the restrictions because they are stopping them in the first place, not us. Without fertilisers, there will be no good harvest and Europe needs a harvest.

– In general, this package is interesting because the authors have become more cautious, – says Ostapkovich. “Introducing sanctions that won’t hurt your economy much, but will lift the bans that have already hurt or will hurt Europe.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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