The European Union has unveiled a new package of sanctions against Russia, targeting the aggressor’s banking, energy and trade sectors in an attempt to weaken its war economy, writes Politico.
European Commission President Ursula von der Leyen said that Russia’s economy has slowed significantly. She presented the new sanctions seven weeks after the previous package came into force. Von der Leyen said that four years after the start of a full-scale war, it is clear that Russia is unable to subdue Ukraine.
The new, 21st package of sanctions must be unanimously approved by all EU countries.
European Union High Representative for Foreign Affairs Kaja Kallas has said that the bloc wants to ban current or former Russian military personnel from entering its countries. She stressed that Europe’s doors must not be open to Russian combatants.
The sanctions also include new export bans on products that could be used in Russia’s military industry.
New rules will also apply to imports from Russia.
The sanctions package includes 31 Russian banks, as well as 20 banks in third countries that are involved in servicing sanctioned Russian citizens and legal entities. The aim of these sanctions is to reduce Russia’s ability to finance aggression in Ukraine.
The EU also plans to freeze Russian oil prices to prevent Moscow from benefiting from rising oil prices caused by the crisis in the Middle East and the closed Strait of Hormuz. New Russian shadow fleet ships have been added to the sanctions list, as well as increased sanctions on those who help the shadow fleet.
New sanctions are also aimed at Belarus, which has a valid customs agreement with Russia. This means that the Minsk regime, dependent on Moscow, serves to circumvent the sanctions imposed on Russia.
Von der Leyen insisted that EU sanctions have been effective so far, citing falling living standards, rising inflation and tax increases in Russia. She added that Russia is paying a higher price every day, and the main payers are the country’s citizens.
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