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Baku/15.03.22/Turan: On March 15, the European Commission announced on March 15 the introduction of the fourth package of sanctions against Russia for its aggression against Ukraine.

- Thus, a complete ban on any transactions with Russian state-owned enterprises of the industrial complex has been introduced;

- Prohibited the import of steel from Russia, which will amount to about 3.3 billion euros of lost income for Russia;

- Prohibited new investments in the Russian energy sector, except for nuclear energy;

- The export of luxury items (cars, jewelry) from the EU to Russia is prohibited, which will directly hit the Russian elite;

- The list of persons and organizations under sanctions has been expanded. The list includes oligarchs and business elites associated with the Kremlin, as well as companies operating in the military and defense sectors. Also on the list are those who are actively involved in disinformation;

- The work of EU credit rating agencies with Russian companies is prohibited, which means the loss of access to the EU financial markets.

Finally, the EU, along with other members of the World Trade Organization (WTO), agreed to deny Russian goods and services the most favored nation in EU markets. This will deprive Russia of the advantages of being a member of the WTO. -02D-


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