The bulk of the package seeks to further strangle the country’s economy by isolating it from the WTO and organizations such as the World Bank
On the fast track. The EU, which unveiled its new round of sanctions to strangle the Russian economy on Friday night and considered them in force on Saturday, closed the last fringes of what is already its fourth punishment ‘package’ on Monday. In the ‘must’ was the expansion of his already kilometric list of Russian oligarchs, which swell 862 names and 53 entities. And at a meeting at the level of ambassadors held in Brussels, at least a fortnight more billionaires related to the Kremlin joined, including Roman Abramovich, the media owner of Chelsea.
“He is a Russian tycoon who has close and long-standing ties to Vladimir Putin” to whom he has “privileged access.” This is one of the reasons put forward in a first draft, advanced by AFP, which will take final legal form with publication in the Official Gazette of the EU.
This update is part of a broader ‘pack’ designed by the European Union, in coordination with the United States and the G7 powers (Canada, France, Germany, Italy, Japan and the United Kingdom). They will push (or have at least threatened to) the red button that could lead to Russia losing favored nation status in Western markets; be left without the benefits it enjoys as a member of the World Trade Organization (WTO). And this would only be a first step. It would also be pushed out of the International Monetary Fund and the World Bank.
This Monday Ukraine also called for the “immediate” expulsion of Russia from the Council of Europe, a supranational body made up of 46 states, outside the EU.