The EU states agreed on further sanctions against Russia on Monday.

The fourth package, by official count, bans investments in Russia's energy sector and transactions with 13 state-owned companies.

In addition, certain iron and steel products may no longer be imported into the European Union.

The export of luxury products to Russia will be restricted.

Thomas Gutschker

Political correspondent for the European Union, NATO and the Benelux countries based in Brussels.

  • Follow I follow

Fifteen other oligarchs are also to be sanctioned, including billionaire Roman Abramovich.

After the EU ambassadors agreed on this package on Monday afternoon, its acceptance in the written procedure in the evening was just a formality.

The fourth package was announced by EU Commission President Ursula von der Leyen on Friday after the meeting of the heads of state and government in Versailles.

It was closely coordinated among the G-7 countries.

This also includes the fact that these states no longer want to apply the most-favoured-nation clause within the framework of the World Trade Organization to Russia.

As a result, the country has to pay higher tariffs and duties on goods that it exports to the seven countries.

Since trade is being restricted more and more anyway, it is primarily a symbolic act.

The ban on investments in the Russian energy sector was drafted in such a way that energy supplies to Europe remain possible.

That was particularly important for Germany, but also for Hungary, Austria and Greece.

Other countries such as Slovakia and Romania, on the other hand, insisted that raw material imports of iron and steel were still necessary because they could not be replaced in the short term.

Therefore, only processed products are affected by the import ban.

The luxury goods that can no longer be exported cover a wide spectrum - from cognac to refrigerators that cost more than 750 euros to expensive wristwatches.

The move by Foreign Affairs Representative Josep Borrell, who surprisingly announced a further 500 million euros in arms aid for Ukraine at Versailles, caused irritation among the EU ambassadors.

The German representative warned that Borrell should also adhere to the agreed procedures in the future.

To date, less than a third of the first tranche of EUR 500 million has been contractually committed.