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EU considers export restrictions for countries trading with Russia – FT – RT Business News

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The move would help close the loophole that allows Moscow to buy sanctioned goods through third parties

Brussels could ban some EU exports to countries suspected of re-exporting sanctioned goods to Russia, in a bid to enforce existing sanctions against the country, the Financial Times reported on Friday, citing people familiar with the talks.

According to the report, a legal mechanism would allow Brussels to identify sanctioned products that end up in Russia through third parties, and the countries that resell them.

The European Commission would then issue official warnings to these states. If these are not respected, Brussels will then add the names of the targeted products and destinations to export controls.

The measure could be included in the 11th Ukraine-related sanctions package against Russia, sources say.

Some Member States have, however, expressed concern about how the measure could affect their trade relations with third countries, as well as how these measures are in line with global trade rules, even if they are strictly targeted and temporary. , according to sources.

This will lead to quite a bit of discussion within the EU – about whether we are comfortable doing this. How do you avoid the unintended side effects of pushing certain countries in a different direction from where you want them to go? You have to be very careful how you use carrots and sticks“, one of the sources told the outlet.

LEARN MORE:
G7 ban on all exports to Russia ‘not doable’ – FT

The European Commission declined to comment on the report.

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