Andrew S. Bowen has published his latest assessment of new sanctions passed by the United States and Europe:
The EU finally agreed on a set of measures that, hopefully, will herald the beginning of a serious commitment by the EU to challenge Russia. They have committed to drawing up a list of individuals that will be subject to sanctions and revealed this Thursday, along with compiling a package of actions:
“The Council recalls the previous commitments by the European Council and remains ready to introduce without delay a package of further significant restrictive measures, if full and immediate cooperation on above mentioned demands fails to materialise. To this end, the Council requests the Commission and the EEAS to finalise their preparatory work on possible targeted measures and to present proposals for taking action, including on access to capital markets, defence, dual use goods, and sensitive technologies, including in the energy sector. The results of this work will be presented on Thursday, 24th July.”
And while it does not actually sanction any industries, it is a powerful step for the EU, and the beginning signs that the understanding that Russia is not committed to a peaceful negotiated settlement on anything other than its preferable terms, and that the West stands more to lose by doing nothing than mere financial interests.