PressAM

The perfect balance on news and information

Business International Politics

EU Implements Stricter Sanctions: Restrictions on Imports of Belarusian Goods and Technology Strengthened in Effort to Target Russia

The European Union is planning to impose stricter restrictions on imports of goods and technology from Belarus, as part of a move to tighten sanctions against Russia, according to a report from the Financial Times. A draft document from Brussels states that the aim is to isolate Belarus by limiting access to technology and products that could be used for military purposes. Luxury stones extracted or processed in Russia will also face import restrictions. These new sanctions will impact the supply chains of luxury goods and automotive products, which have been linked to military aggression in Ukraine. The report also highlights that European automakers will be affected, as they can no longer sell cars in Belarus as they previously did.

A telegram channel revealed that transports and automotive components are the primary imports from Germany and Poland to Belarus, with the value increasing from $50 million in January 2022 to $268 million in January of this year.