EU approves the fourth package of economic sanctions.
European Union member states have agreed to increase sanctions against Russia following military aggression in Ukraine.
According to European Commission President Ursula von der Leyen, these sanctions will “mutilate” the regime of Vladimir Putin.
“I welcome the swift approval by the EU member states of the fourth package of sanctions against Russia. This will further cripple Vladimir Putin, to finance this unjustified aggression. “The EU and its partners will continue to put pressure on the Kremlin until it stops invading Ukraine.”
European diplomats have said the sanctions would include a ban on imports of Russian steel and iron, a ban on the export of luxury goods including cars worth 50,000 euros, and a ban on investment in oil companies and the energy sector.
The sanctions will also block Russia’s access to International Monetary Fund (IMF) and World Bank financing.