European Union imposes new sanctions on top Russia officials, banks, trade – National | 24CA News

The European Union agreed Saturday to impose new sanctions on Russia over its invasion of Ukraine concentrating on extra officers and organizations accused of supporting the conflict, spreading propaganda or supplying drones, in addition to proscribing commerce on merchandise that could possibly be utilized by the armed forces.

The EU’s Swedish presidency mentioned the sanctions “are directed at military and political decision-makers, companies supporting or working within the Russian military industry, and commanders in the Wagner Group. Transactions with some of Russia’s largest banks are also prohibited.”

Asset freezes had been slapped on three extra Russian banks and 7 Iranian “entities” — corporations, companies, political events or different organizations — that manufacture navy drones, which the EU suspects have been utilized by Russia through the conflict.

The new measures, proposed by the EU’s govt department three weeks in the past, had been solely adopted after a lot inside wrangling over their actual make-up, and made public sooner or later after the primary anniversary of Russia’s invasion of Ukraine _ the supposed goal date.

The delay, which was minor however symbolically necessary, is but extra proof of how troublesome it has turn out to be for the 27-nation bloc to establish new targets for restrictive measures which might be acceptable to all member nations.

The sanctions are supposed to undermine Russia’s economic system and drain funds for its conflict effort, however they’re additionally more and more inflicting ache on European economies already hit by excessive inflation and vitality costs and nonetheless affected by the results of the COVID-19 pandemic.

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Before this newest spherical of measures, the EU had already focused nearly 1,400 Russian officers, together with President Vladimir Putin, authorities ministers, lawmakers and oligarchs believed loyal to the Kremlin, but in addition officers believed liable for conflict crimes or concentrating on civilian infrastructure.

The bloc had additionally frozen the property of greater than 170 organizations, starting from political events and paramilitary teams to banks, non-public corporations and media retailers accused of spreading pro-Kremlin propaganda.

Russia’s vitality sector was hit, too — notably oil and coal — and the bloc, by way of its personal measures and political selections mixed with retaliation from Moscow, was quickly weaned off its dependence on Russian pure fuel.

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