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EU's 12th sanctions package against Russia likely to kick in by end of year — source

The draft package initially proposed by the European Commission was significantly softened at the discussion stage

BRUSSELS, December 12. /TASS/. The European Union plans to adopt the 12th package of sanctions against Russia before the end of December, a European diplomatic source told TASS.

"This week, the Committee of Permanent Representatives of the EU is putting together a package of sanctions. We will not comment on the details of the discussions, but we expect that it will be completed quickly and the sanctions will come into force before the end of December, probably after the meeting of the European Council (EU summit 14-15 December - TASS)," the diplomat said.

Earlier, European media reported that the sanctions package would include a ban on the import of commercial diamonds from Russia to the EU. The list of Russian legal entities and individuals will also be expanded, and measures will be taken to shore up existing restrictions, including compliance with the oil price cap, which, according to European transport companies, has not yet begun to take effect.

The draft package initially proposed by the European Commission was significantly softened at the discussion stage. In particular, EU states were unable to agree on a ban on the sale of tankers to Russia. According to Reuters, the initiative failed because Mediterranean countries with powerful maritime shipping companies feared the move would undermine their competitiveness. In accordance with the 12th package of sanctions, sea carriers from countries that support EU measures will only need to notify the European Commission about the sale of tankers to Russia.

In addition, EU countries insisted on reducing the list of dual-use goods that will be prohibited from being supplied to Russia, since the restrictions proposed by the European Commission seemed excessive to many EU states.

In particular, the 12th package of sanctions will oblige EU banks to notify the European Commission of all cases of money transfers by Russian companies or residents located in the EU to any countries outside the European Union if the transfer amount exceeds 100,000 euros.