Ukraine crisis: EU imposes fourth sanctions on Russia

France, which presides over the European Union, said, “The bloc, in consultation with our international partners, has approved a fourth package of sanctions targeting individuals and entities involved in aggression against Ukraine, as well as a number of areas.” Of Russian economy,

The French president said in a statement that the bloc also approved the World Trade Organization’s announcement to “suspend the application of the Most Favored Nation Clause to Russia and the examination of Belarus’ application for entry into the WTO”. .

If Russia is suspended, its companies will no longer receive special treatment across the bloc.

The announcements were in line with an announcement made by leaders at the Versailles summit last Friday that a tough package of sanctions is on the way if Russia continues its invasion of Ukraine. The exact details of the latest package of sanctions will be known only after publication in the official journal of the European Union.

Since the war broke out last month, the European Union has taken tough measures targeting Russian President Vladimir Putin, Russia’s financial system and its high-maintenance oligarchs. Last week, the bloc’s nations agreed to impose further sanctions on 160 individuals and added new restrictions on the export of maritime navigation and radio communications technology.

They also decided to exclude three Belarusian banks from SWIFT, the dominant system for global financial transactions. In all, EU restrictive measures now apply to a total of 862 individuals and 53 entities.

In a statement published after the summit, EU Commission President Ursula von der Leyen said a fourth package of sanctions would deplete Russia “and the resources it used to finance this barbaric war.”

She said the EU would work with the Group of Seven countries to increase pressure against Moscow.

Efforts to agree an oil boycott against Russia are complicated, as some EU countries, including Germany and Italy, rely more heavily on Russian energy than others. Showing borders within the EU, Poland gets 67% of its oil from Russia while Ireland receives only 5%.

This story has been published without modification in text from a wire agency feed. Only the title has been changed.