European Union imposes new sanctions on top Russia officials, banks, trade – National

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 struggle, spreading propaganda or supplying drones, in addition to proscribing trade on merchandise that could possibly be utilized by the armed forces.

The EU’s Swedish presidency mentioned the sanctions “are directed at navy and political determination-makers, corporations supporting or working inside the Russian navy business, and commanders within the Wagner Group. Transactions with a few of Russia’s largest banks are additionally prohibited.”

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

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The new measures, proposed by the EU’s government department three weeks in the past, have 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 meant goal date.

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The delay, which was minor however symbolically vital, is but extra proof of how troublesome it has change into for the 27-nation bloc to determine new targets for restrictive measures which can be acceptable to all member nations.

The sanctions are supposed to undermine Russia’s financial system and drain funds for its struggle 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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Earlier than this newest spherical of measures, the EU had already focused virtually 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 struggle crimes or concentrating on civilian infrastructure.

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

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

&copy 2023 The Canadian Press

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