The eighth package of sanctions may hit the European Union

The Baltic countries insist on the introduction of the eighth package of sanctions against Russia. Latvia, Lithuania and Estonia have proposed to the European Commission to include new restrictions on the SWIFT system, energy and trade. And in Sweden they called to impose sanctions on Russian gas. In the material REN TV we will tell you what will be included in the new package of EU restrictions and why it could turn into a disaster for Europe.

What can be included in the eighth package of sanctions

The Baltic countries – Latvia, Lithuania and Estonia, put forward their ideas regarding the sanctions that may be included in the eighth package. This list includes restrictions in the field of energy, trade and the SWIFT system.

“We at least want him (the eighth package of sanctions. – Approx. REN TV) was adopted as early as possible. We have already submitted concrete proposals on this issue to the Commission. We are talking about energy, trade, further restrictions on the SWIFT system, as well as adding even more people and organizations to the sanctions lists. – said the head of the Estonian Foreign Ministry Urmas Reinsalu.

In his opinion, the current sanctions against Moscow are effective, but they are not enough. As early as August 19, the Estonian minister spokethat the Cabinet of Ministers of the country will propose to the European Commission “to close the Schengen visa zone for citizens of Russia” at the pan-European level. Reinsalu is convinced that the rest of the Western countries should follow the example of Tallinn, which has already banned Russians with Estonian Schengen visas from entering.

Sweden is not far behind the Baltics. Foreign Minister Ann Linde said that Stockholm insists on the eighth package of anti-Russian sanctions and hopes that it will include gas measures. This proposal was made by the Minister of Foreign Affairs at a press conference attended by her Ukrainian counterpart Dmitry Kuleba, as well as Swedish Prime Minister Magdalena Andersson.

“We hope that sanctions will be imposed on gas,” – she said.

“For Russia it is not critical”

The Federation Council of the Russian Federation commented on possible restrictions on SWIFT that Europe may introduce. Deputy Head of the Economic Committee Ivan Abramov declaredthat these sanctions are not critical for Russia. The country trades with other states using the national currency, and many large Russian banks are already disconnected from the international payment system.

“For us, this is no longer critical, all large Russian banks are already disconnected from SWIFT”, says the senator.

He noted that some transactions are still going through SWIFT. However, now Russia is completely restructuring the structure, and in the near future it plans to completely abandon the use of the international system.

“We have a place to sell our products, including energy resources,” Abramov stressed. According to the senator, the proposal of the Baltic countries may not receive support in the European Union. “Not the fact that it will be accepted”, – he said.

“Catastrophic Consequences” for Europe

First Deputy Head of the International Committee of the Federation Council Vladimir Dzhabarov warned about the catastrophic consequences of new sanctions for Europe itself.

“Europe, in a Russophobic frenzy, is ready to shoot itself in the legs, and in the hands, and in general anywhere, if only to make Russia more painful. They adopted 7 packages of sanctions, they are preparing the eighth. But harmful Russia does not give up,” – the senator wrote in his Telegram channel.

He recalled that “time is ticking inexorably”: summer is ending, autumn is coming, and then winter.

“The imposed sanctions have a negative impact on the development of our economy. Negative, but not crushing, and even more so not fatal. And the EU countries are faced with problems that could become catastrophic for them, – considers the senator. – And in the name of what the Europeans go for it? To annoy Russia? Sooner or later, they will ask their governments why sacrifice the well-being of their people to support neo-Nazi Ukraine.” Jabarov is convinced.

Western Sanctions War

Recall that the West has tightened restrictions against Moscow against the backdrop of a special operation in Ukraine. EU froze assets of the Central Bank, disconnected the country’s largest banks from the SWIFT system, imposed a ban on the import of coal, gold, as well as on the participation of companies from the Russian Federation in public procurement in European countries. The black list of the West included Russian deputies, prominent businessmen and even the first persons of the state – Vladimir Putin, Sergey Lavrov and Dmitry Peskov.

EU adopted seventh package of sanctions against Moscow on 21 July. As part of the new restrictions, they imposed a ban on the export of Russian gold and expanded the list of dual-use goods that are prohibited from trade and any type of transit with the participation of Western countries.

However, some of the sanctions previously imposed against the Russian Federation have been eased. The seventh package made exceptions for the transportation of oil to third countries, operations with agricultural products and the purchase of medical equipment. In addition, the EU has simplified access to justice and eased the ban on transactions with Russian state-owned companies.

Package after package, Europe introduced more and more new sanctions, and soon it is going to adopt the eighth document. However, these restrictions hit the West itself hard: the EU countries faced an unprecedented energy crisis, inflation and rising prices. In the UK edition of The Spectator notedthat Europe has failed to isolate Russia economically, despite all efforts. Earlier, Vladimir Putin stressed that the policy of isolating Russia is futile. He stated that all attempts by Western countries to “cancel Russia” are futile and serve only as a demonstration of stupidity.