EU officially approves eighth round of sanctions against Russia by extending a ban on imports from Russia of wood pulp and paper
EU officially approves eighth round of sanctions against Russia by extending a ban on imports from Russia of wood pulp and paper
On October 5 local time, EU member states approved the latest (eighth) round of draft sanctions against Russia, including the price cap on Russian oil. The specific sanctions came into force on the morning of October 6 local time.
It is reported that the latest round of sanctions against Russia will prohibit Russian oil that exceeds the price cap from being transported by sea to a third country. As the global market for shipping services is monopolized by Western countries such as the EU and the UK, Russian oil sellers will probably struggle to find an insurance provider who is willing to guarantee shipping once the price of Russian oil exceeds the cap set by the EU.
Moreover, the sanctions will extend an additional ban on trade in goods such as Russian steel products and high-tech products; the EU will be banned from providing internet technology, engineering and legal services to Russian entities, and further bans on technology exports. There will also be a ban on EU citizens serving as members of the boards of directors of Russian state-owned enterprises, and a number of Russian citizens are included on the sanctions list.
Nevertheless, the US media noted that not all of the products on the sanctions list were "tools of war". A number of common household items were also included in the list of banned imports, including "beauty or make-up" products, "shaving products" and "personal deodorants". Soap, toilet paper, dental floss and make-up cases are also included. Commenting on the new round of EU sanctions, Zakharova, the spokeswoman for the Russian Foreign Ministry, wrote in a post on the social media Telegram, “Western media reported that the EU has decided to ban imports of cosmetics and shaving products, soap and toilet paper from Russia. When coupled with water conservation, it brings to mind the contents of a letter written two hundred years ago. In a letter to Josephine, Napoleon wrote: “Home in three days. Don't bathe.' (It is) traditional.”
Of concern is the inclusion of pulp and paper in the new list of imports restriction. If Russian pulp and paper cannot be exported to other European countries, then the biggest alternative market is undoubtedly China.
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