The issue of Russia's oil price ceiling is also on the EU's agenda. (Source: Rappler)

Bloomberg (USA) reported on October 31 that the European Union (EU) plans to introduce new trade restrictions with an estimated total value of about 5.3 billion USD, as part of the 12th package of sanctions against Russia.

The proposed new restrictions would affect exports of welding equipment, chemical products and other technologies that could be used for military purposes.

The EU is also considering bans on software licensing and imports of certain processed metals, aluminium and construction products, transport products and diamonds.

It is expected that more than 100 individuals and 40 legal entities will also be included in the EU's new sanctions "blacklist".

The source revealed that the alliance wants to convince European companies to add clauses to contracts with third countries, which prohibit the export to Russia of goods that can be used for military purposes.

Discussion also focused on regulations prohibiting the return of Moscow's assets frozen in the EU and restricting the activities of Russian citizens in sensitive areas.

The issue of Russia’s oil price cap is also on the agenda of the bloc’s member states and partners. Currently, the parties are looking for ways to enforce this measure more effectively, in particular proposals to increase transparency in the oil price formation process and to limit transactions with sanctioned vessels.

Bloomberg stressed that the above proposals may still have changes and will then need consensus from all 27 EU member states.