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EU chief says proposed new import/export bans worth 11 bln euros
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Four more banks may be excluded from SWIFT
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Restrictions on Iran and China for helping Russia on the table
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Unanimity of all 27 EU countries needed
(Adds fresh quotes, detail)
By Gabriela Baczynska
BRUSSELS, Feb 15 (Reuters) - Representatives of the 27 European Union countries meet in Brussels on Wednesday to discuss a new batch of sanctions against Russia, which the head of the bloc's executive said could cost 11 billion euros ($11.8 bln) in lost trade.
The bloc is expected to agree new sanctions to mark the one-year anniversary of Russia's invasion of Ukraine on Feb. 24, but the specific proposals must yet win the unanimous backing of all EU member states.
"We are weakening Russia's ability to maintain its war machine. We have adopted nine packages of sanctions, the Russian economy is shrinking," European Commission President Ursula von der Leyen said. "We need to keep up the pressure," she told the European Parliament ahead of the closed-door talks among the 27 national envoys in Brussels.
"We're talking about 11 billion euro. We are suggesting restrictions on some dual-use and electronic components used in Russian armed systems such as drones and missiles and helicopters," she said, describing the looming 10th sanctions package, which could also target Iran for helping Russia's war.
"There are also hundreds of drones manufactured in Iran, used by Russia, in the battlefield in Ukraine. These Iranian drones kill Ukrainian civilians... so for the first time we are also suggesting sanctions targeting Iranian economic operators including those linked to the Revolutionary Guards."
10TH PACKAGE
The Commission has proposed EU countries should cut four more Russian banks, including the private Alfa-Bank, the online bank Tinkoff and the commercial lender Rosbank from global messaging system SWIFT, two EU diplomatic sources said on condition of anonymity.
Rubber and asphalt would be added to the EU list of barred imports from Russia and the bloc would ban Russia Today's Arabic service from its territory, according to the people, who are familiar with the confidential talks.
Further bans on EU exports to Russia were meant to stifle Moscow's ability to produce arms and equipment deployed against Ukraine.
The sources said they would cover electronic circuits and components, thermal cameras, radios and heavy vehicles, as well as steel and aluminium used in construction and machinery serving industrial and construction purposes.