The European Union (EU) is reportedly planning to impose its 12th package of sanctions, which could potentially impact companies from Uzbekistan. The sanctions are expected to affect more than 30 companies from Uzbekistan, Kazakhstan, and Singapore, as well as several engineering firms from Russia.
The new sanctions package will prohibit the export of machine tools, chemicals, lithium batteries, thermostats, engines, and drone spare parts to Russia. Additionally, the import of liquefied propane, cast iron, spiegel (mirror cast iron), copper, aluminium wires, foil, and pipes will be limited.
The EU’s measures also include stricter enforcement of the $60 per barrel price cap for Russian oil, aimed at combating Russia’s “shadow fleet” used for fuel exports. Exporters will be required to include clauses in their contracts prohibiting the re-export of certain goods from Russia.
The sanctions lists will be expanded to include 100 individuals and 40 legal entities. The new restrictions will impact Russia’s foreign trade by approximately €5 bn.
This follows the EU’s move in late October to tighten control over the export of 73 products to third countries, including trucks, truck components, and construction and industrial equipment.
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