The European Union (EU) decided to agree to impose further sanctions on Ukraine, which would have an impact on the maritime sector, 3 Belarusian banks and several individuals.
The new move will be officially confirmed by the leaders of the bloc's 27 member states at a summit in Versailles, France, later this week. France announced its approval of the matter as the current president of the EU on Wednesday.
The United States and Europe have already imposed comprehensive sanctions on Russian leaders, business tycoons and the banking system since President Vladimir Putin launched the war nearly two weeks ago.
Western governments are now working to increase pressure on Moscow. The EU’s top diplomat, Josep Borrell, told the European Parliament that the new sanctions include travel bans and asset freezes on about 100 Russians at different levels of government.
European Commission President Ursula von der Leyen confirmed the sanctions also targeted the export of maritime navigation technology to Russia. Also today, the U.S. President. Joe Biden imposed an immediate ban on Russian oil and other energy imports. At the same time, Britain announced that it would soon stop importing oil from Russia in stages.
French Finance Minister Bruno Le Maire noted that the economic collapse as a result of the Ukraine war is unlikely to lead to the stagflation that occurred in the 1970s.
