The twenty-seven agree on their eighth round of sanctions against Moscow and join measures agreed by the G7
The ambassadors of the member states of the European Union have agreed on the new round of sanctions against Russia. The new economic penalties include a cap on the price of Russian oil, which aligns the European Union (EU) with the measure already agreed by the G7 to limit the price of crude oil imports.
The Twenty-seven are taking these measures in response to Russia’s escalation of the conflict, with the mobilization of 300,000 reservists, the annexation of the occupied territories of Ukraine and Putin’s threat to use nuclear weapons. In addition to the oil ceiling, the EU will further restrict the export of key technology for Russian industry.
There is a “political agreement” on the new set of sanctions against Russia, but before they come into force we have to wait for the written procedure to be drafted and adopted. In this way, it is foreseeable that tomorrow, Thursday, all details of the new measures against Moscow will be announced. This new package is known to further restrict Russian imports – an additional $7 billion bite into the economy – and European technology exports. In addition, the blacklist of sanctioned individuals and companies, which already contains more than 1,300 names, is being expanded.
Since the start of the war, the EU has issued six packages of economic and diplomatic sanctions against Russia – in agreement with the majority of the international community – and individual sentences against people closely related to Putin’s leadership. In recent weeks, the EU has called for greater international coordination to impose “effective sentences” on Moscow and increase military and economic support for Ukraine.
That same Wednesday, the head of European diplomacy, Josep Borrell, warned that support for Kiev must be “unshakable”, as “its security is tied to ours”. In this regard, European leaders are expected to discuss sending an additional EUR 3 billion to Ukraine at the informal summit in Prague.
Source: La Verdad
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