The EU has agreed to impose new sanctions on Russia over the invasion of Ukraine. The main goal is to take action against circumventing the numerous existing sanctions.
The European Union agreed on Wednesday to hit Russia with a new set of sanctions in connection with the invasion of Ukraine.
The main aim of the latest package is to tackle the circumvention of the numerous sanctions that have been imposed since February 2022.
Brussels is increasingly concerned about the surge in EU exports to countries on Russia’s periphery, such as Armenia, Uzbekistan and Kazakhstan – a possible warning sign that items on the list are falling into Russian hands.
The new sanctions will tighten export controls and introduce a new mechanism to target non-Russian companies suspected of being involved in the circumvention.
Specific details were not immediately known.
“I welcome the political agreement on our eleventh package of sanctions,” said Ursula von der Leyen, President of the European Commission.
“It will deal another blow to Putin’s war machine by tightening export restrictions and targeting entities that support the Kremlin. Our anti-circumvention tool will prevent Russia from getting its hands on sanctioned goods.”
The breakthrough comes just hours after Ukrainian authorities decided to temporarily suspend the inclusion of five Greek shipping companies in the list of “international sponsors of the war.”
Greece and Hungary had for weeks blocked agreement on new sanctions, which had been proposed more than a month ago to protest the naming of their domestic companies.
Nevertheless, Kiev maintained the list of OPT Bank, Hungary’s largest commercial bank.
Source : Euro News