Among them is Russia’s denial of the trade status of the most favored nation.

The European Union and the G7 countries have completed the preparation of the fourth package of sanctions against Russia, Reuters reports, citing EU sources.

Earlier, on March 11, European Commission President Ursula von der Leyen spoke about the new restrictions.

Among them is Russia’s denial of the trade status of the most favored nation. This measure will allow Western countries to impose high tariffs on Russian goods in accordance with the rules of the World Trade Organization (WTO).

In addition, it is planned to deprive Russia of membership in leading international financial organizations, including the IMF and the World Bank.

It is assumed that the list of Russians who will be personally sanctioned will also be replenished. It will include people from the entourage of Russian President Vladimir Putin, as well as their family members.

In addition, according to von der Leyen, the Russian state and elites may be blocked from accessing cryptocurrencies, it is planned to introduce a ban on the export of any luxury goods from the EU to Russia.

“Those who support Putin’s military machine should no longer be able to enjoy a luxurious life while bombs are falling on civilians in Ukraine,” the European Commission President stressed.

The fourth package of EU sanctions will also affect the Russian energy sector.

After Russia’s invasion of Ukraine on February 24, 2022, EU member states and other countries imposed several packages of sanctions against Russia.

The restrictions affected the Central Bank and major Russian banks, the aviation industry, as well as Russian officials, including Russian President Vladimir Putin personally, businessmen and media personalities justifying Russia’s actions.