On Thursday, the European Union approved a new package of sanctions against Russia over its war in Ukraine.
Last week, the bloc’s executive body proposed a ninth round of talks. fines In Moscow, the blacklist included almost 200 individuals and legal entities, as well as three banks, a halt to investment in the mining industry, and a ban on more Russian TV channels.
In the face of Russian strikes against Ukraine, the EU has also considered imposing an embargo on the supply of drone engines to Russia and Iran, as Iran provided Russia with warhead-equipped drones that were used in attacks on Ukraine.
Today, Friday, the European Union officially announced the introduction of new sanctions against the Russian military industry complex, as well as individuals and organizations involved in attacks on Ukrainian civilians or the kidnapping of children in Ukraine.
European Commission Vice President Valdis Dombrovskis said the new package of sanctions would hit 168 entities – companies or government agencies – in addition to about 20 individuals.
European Commission President Ursula von der Leyen said the package also focused on “technology, finance and media that could undermine the Russian economy and the Russian military machine.”
Von der Leyen added that the new sanctions target “nearly 200 individuals and entities involved in attacks on civilians and kidnappings of children.”
The approval of the package was delayed after riparian countries including Belgium and the Netherlands requested exemptions from previous sanctions on Russian fertilizer producers that Poland and Lithuania called unacceptable.
Officials said the settlement was reached on the sidelines of a summit of EU leaders in Brussels and the sanctions would be formally confirmed on Friday.
“Ambassadors agreed in principle to a package of sanctions against Russia as part of the continued EU support for Ukraine,” a representative of the Czech Republic, the EU Presidency, tweeted.
Diplomats said that after the dispute, some exemptions for “food security and fertilizers” were adopted as part of the agreement.
Lithuanian Foreign Minister Gabrielius Landsbergis complained that the new package of sanctions “was a missed opportunity.”
“Unfortunately, we had to spend so much time discussing exceptions rather than introducing tougher penalties,” he tweeted.
He said that Poland and Lithuania “managed to provide additional security guarantees that fill in any loopholes.”
Ahead of the deal, a senior Ukrainian diplomat criticized attempts to lift any sanctions that had already been placed on Moscow.
“Attempts to allow Russian oligarchs and companies to backtrack on EU sanctions already in place are a blow to the entire sanctions regime,” Foreign Minister Dmitry Kuleba tweeted.
The European Union has imposed eight unprecedented sanctions against Russia since it launched a full-scale invasion in February, including against its main oil export.
But diplomats have warned that the bloc’s ability to hurt the Russian economy is waning as the war drags on for about 10 months.
The conglomerate refused to supply gas from Russia, fearing a further rise in energy prices. He also stayed away from sectors important to member states, such as diamonds.
The European Union, along with its G7 partners, introduced measures last week aimed at capping the price of Russian oil sold on the world market in an attempt to limit funding for the Russian military machine.
The European Union’s ban on the import of crude oil from Russia by sea also came into effect following a preliminary agreement struck earlier this year.