As the EU prepares to adopt a second round of sanctions against Russia, several European business representatives are concerned about the possible Russian response.
“European businesses will be bearing the burden, including companies trading and operating in Russia. In this context, early guidance and as detailed as possible information about the economic sanctions together with supporting measures will be needed to mitigate the impact”, said BusinessEurope. For the employers’ organisation, the EU must also coordinate as well as possible with its international partners, in particular the United States. Clear sanctions will allow companies to cope with the economic backlash. The organisation also stresses the need to anticipate the risks of energy disruption and calls for a collective effort to guarantee alternative supplies as soon as possible.
The National Federation of Farmers’ Associations (FNSEA) also fears the consequences for French farmers. The organisation’s president, Christiane Lambert, told French television that the EU’s financial sanctions against Russia “create a huge risk of retaliatory measures against EU products”.
In 2014, Russia decided to impose an embargo on a large number of European agricultural products, which led to a drop in exports to Russia, particularly in France.
EU trade sanctions
According to a document obtained by EUROPE ahead of the meeting of heads of state and government on Thursday evening, the EU wants to impose additional restrictions on the export of dual-use goods (goods that can be used for both civilian and military purposes) and high-tech products. Tighter restrictions would apply to these exports, not only when they are for military use, but for all end-users. Export bans on dual-use goods had already been imposed on Russia in 2014.
The EU also plans to further control exports in the sectors of electronics, computers, telecommunications, information security, sensors and lasers and marine applications. At the time of going to press, the second set of sanctions had not yet been approved.
On Tuesday 22 February, the Donetsk and Luhansk oblasts were already targeted by trade measures. It is now forbidden to import any product originating from these regions. Europeans can no longer export certain critical goods and services in the sectors of tourism, transport, telecommunications, energy, exploration, exploitation, production of oil, gas, mineral resources, etc.
See the internal document detailing the second set of sanctions that are expected to be adopted: https://aeur.eu/f/i3 (Original version in French by Léa Marchal and Pascal Hansen)