May 05, 2023
EU may target countries Russia is using to escape sanctions
2023-05-11
The European Union may impose sanctions on countries mainly in Asia and also including Russia’s neighbors that might have a hand in helping Russia evade sanctions, in order to discourage the given countries from helping Russia’s invasion of Ukraine, according to a report by Bloomberg.
With the new sanction mechanism, the EU would extend the scope of existing export measures to prevent Russia from sourcing products whose export is prohibited by the EU through third countries, claiming that the country’s imports of some products such as semiconductors have risen, and the EU would also ban some products transiting through Russia.
Considering the sanctions imposed against Russia, the new sanction mechanism will not be the first one against the third countries. In October last year, the EU banned the imports of steel products processed in third countries using steel originating from Russia, within the scope of the EU’s eighth sanction package, as SteelOrbis previously reported.
Source: Steel Orbis
