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7 Mar, 2022 15:53

EU to hit Russia with new sanctions – media

Measures may target Russian ports, ships, and military technology and individuals
EU to hit Russia with new sanctions – media

The European Union is finalizing a new round of Ukraine-related anti-Russia sanctions, Bloomberg reported on Monday, citing people familiar with the matter.

According to the agency, the new restrictions may affect Russian ports and ships, as well as further hit technologies used in the country’s military equipment.

In addition, the list of people under sanctions may be expanded.

Some of the measures could reportedly come as early as Tuesday.

The EU is also said to be working on strengthening the entire sanctions enforcement scheme, including ways to limit Russia’s possible use of crypto to circumvent the measures.

Over the weekend, Washington said it was exploring a bill that would ban the import of Russian oil and energy products. However, the EU has been skeptical regarding the drastic step, with German Chancellor Olaf Scholz on Monday effectively putting the brakes on discussions about banning Russian energy imports. Scholz said that oil and gas supplies from Russia are of “essential importance” to the European economy, stressing that, currently, heating, transport and electricity generation in the EU cannot be secured without them.

On February 24, Russian President Vladimir Putin announced the launch of a special military operation in Ukraine. Many Western nations saw the move as an “unprovoked” aggression and imposed sanctions against Russia, mostly targeting Russian banks, high tech imports, and a number of government officials and businessmen. However, so far no restrictions have been imposed on exports from Russia, including the exports of energy carriers – oil and gas. Many fear a shortage of fuel on the global market could further propel prices and inflation, already record-high in many states across the globe.

For more stories on economy & finance visit RT's business section

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