EU Approves New Round Of Sanctions Against Russia As Ukraine’s Invasion Anniversary Nears

EU Approves New Round Of Sanctions Against Russia As Ukraine’s Invasion Anniversary Nears

2 months ago
1 min read

The European Union on Wednesday approved a new round of sanctions against Russia as the second anniversary of Russia’s invasion of Ukraine approaches.

The decision, made by EU representatives in Brussels, Belgium, targets individuals, organisations, and the Russian weapons industry.

This latest round of sanctions by the EU, the 13th since the invasion began in February 2022, aims to limit the Russian weapons industry’s access to components for procuring weapons. The sanctions will affect nearly 200 individuals and organizations, making it one of the broadest packages approved by the EU in connection with Russia’s aggression against Ukraine.

READ ALSO: Russian Missile Strike Hits Apartment Block In Ukraine

The new sanctions will see 193 entities and individuals added to the list of those banned from traveling to the EU or conducting business there. However, there are no fresh measures against specific economic sectors, Reuters reported. The sanctions also focus on the procurement network supporting Russia’s military, particularly the supply chain for making drones.

Among the companies added to the list are mostly Russian, along with three mainland Chinese firms, one Hong Kong-based company, a company in North Korea, and one in Belarus. A previous round of EU sanctions included ban on imports of crude oil, coal, steel, gold and luxury goods, as well as measures aimed at banks and financial institutions.

EU Commission President Ursula von der Leyen welcomed the approval of the sanctions, stating that they will continue to keep “the pressure high on the Kremlin” and “degrade Putin’s war machine.” The sanctions agreement now needs formal approval from EU member states and will take effect on Saturday, February 24, the anniversary of Russia’s invasion of Ukraine, and will be listed in the EU Official Journal.


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