EU prepares 11th package of sanctions against Russia

Von der Leyen and the President of the European Council Charles Michel held a press conference at the end of the first day sessions of the EU Leaders’ Summit held in Brussels.

Noting that the sanctions are being breached and the gaps in the existing sanctions are becoming increasingly serious, von der Leyen said, “When we impose sanctions, the other party tries every way to avoid and undermine the sanctions.” he said.

Von der Leyen pointed out that the latest 10th package against Russia includes various elements that strengthen the implementation of existing sanctions, eliminate gaps and prevent their perforation.

Explaining that the EU has appointed a representative on sanctions, and that this person has met with countries where violations of sanctions have been observed, von der Leyen emphasized that they are also working intensively with the G7 countries to ensure compliance and share information on the prevention of violations of sanctions.

Von der Leyen reminded that in the 10th sanctions package of the EU, they introduced the possibility of listing the persons, companies or organizations in third countries that violated the said measures.

Pointing out that they have taken various measures to address the violation of the sanctions, von der Leyen said, “These measures are definitely not enough. Therefore, the 11th sanctions package will mainly deal with the problem of how to prevent the circumvention of sanctions.” used the phrase.

Von der Leyen pointed out that the important topic at the meeting was the competitiveness of the economy and industry, and said that global competition has become very strong.

“The EU still has work to do to develop its own clean technology industry.” Von der Leyen said, reminding that they have prepared a Green Reconciliation Industrial Plan on this issue.

Recalling that they prepared net zero industry and critical raw materials bills two weeks ago, Von der Leyen stated that the European Parliament (EP) and member states should act quickly for these laws to come into force.

Emphasizing the importance of quickly getting rid of the existing obstacles in the EU market, von der Leyen said that they should deepen the union of capital markets and complete the banking union.

“We need large public investments in infrastructure and cutting-edge projects. This requires sustainable public financing,” von der Leyen said. he said.

R&D expenditures should increase

Drawing attention to the importance of increasing the R&D expenditures of EU countries, von der Leyen said that the key to success is innovation. He explained that competitors spend much higher.

Prepare to alleviate bureaucracy

Stating that they had a comprehensive discussion on competitiveness, single market and energy issues, the President of the European Council, Michel, said that the leaders are committed to work together to ease the administrative burden, facilitate initiatives, speed up procedures, and move forward with smart rules and regulations so that Europe is more competitive.

“To successfully complete the digital and green transformation, we also need to be more assertive in investments in innovation.” Michel said, emphasizing that they need to mobilize private capital to support this.

The USA provides significant incentives to strategic investments with its disinflation law. EU; It is afraid that European manufacturers will lose their competitive advantage in the face of incentives and supports in countries such as the USA and China and tries to take precautions in this area.