EU’s new sanctions jeopardise Russia-Italy trade: Chamber of commerce

Moscow: The new package of Russia sanctions introduced by the European Union (EU) partially jeopardises Italy-Russia trade, as new procedures for checking customs codes may affect goods that are not officially subject to the restrictions, president of the Italian-Russian Chamber of Commerce, Ferdinando Pelazzo, told Sputnik.

On Monday, the EU adopted the 12th package of Russia sanctions, which includes a ban on both direct and indirect imports, the purchase and transfer of Russian diamonds. The package also prohibits the transfer of dual-use products and technologies, including lithium batteries and drone components.

“If previously certain goods came under sanctions, but were exempted from them upon closer examination, then now, I have read, there is some kind of ‘rounding’ of customs codes,“ Pelazzo said.

Certain goods may now automatically come under restrictions if they fall within a general customs code that also includes goods affected by the sanctions, the official explained.

After the start of Russia’s military operation in Ukraine on Feb 24, 2022, Western countries have significantly expanded their list of sanctions against Moscow. Many foreign companies were forced to leave the Russian market, as Western sanctions resulted in disruptions in supply chains.