As of January 1, Russia has stopped the direct import of non-food and synthetic goods, as well as precious metal jewelry, into the European Union. This is in accordance with the 12th package of sanctions that were introduced earlier. The ban on the imports of Russian goods will be effective in other countries until September 1, 2024. Experts estimate that Russia earns an annual revenue of 3.7-4.6 billion euros from the sale of these goods.

In addition to the import ban, the 12th package of sanctions also includes a reduction in the supply of Russian natural gas to third countries. European companies are now required to provide evidence that they do not violate Russia’s gas monopoly in the markets of Eastern European countries.

The European Union’s new package of sanctions also outlines a list of products that are subject to restrictions. Among these are lithium batteries, thermometers, and various chemicals. Furthermore, the package includes restrictions on more than 140 physical and legal persons, including individuals involved in the conflict with Ukraine.