EU Implements New Sanctions Against Russia

Written by Kathrine Frich

Jun.24 - 2024 1:43 PM CET

Photo: Shutterstock
Photo: Shutterstock
The European Union has announced its 14th package of sanctions against Russia,

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The European Union has announced its 14th package of sanctions against Russia, targeting sectors including finance, trade, and energy.

According to URA EU High Representative for Foreign Affairs and Security Policy, Josep Borrell, confirmed these measures aimed at further weakening the Russian economy and hindering President Putin's plans.

Borrell emphasized the unity of the EU in supporting Ukraine through these sanctions, as reported by the European Council's website.

Sanctions Target Trade, Energy, and Finance Sectors

These new sanctions specifically impact Russia's trade, energy, and financial sectors.

They also include additional measures affecting 116 individuals.

The EU's ongoing efforts are part of a broader strategy to impose economic pressure on Russia in response to its actions in Ukraine.

Financial Aid for Ukraine from Frozen Russian Assets

Earlier, Borrell announced the first tranche of funds for Ukraine, totaling 1.4 billion euros, which will be derived from profits from Russian assets frozen within the EU. This financial support is scheduled to be disbursed next week, with a second tranche expected in the coming months to further aid Ukraine's defense efforts.

The latest round of sanctions underscores the EU's commitment to standing with Ukraine against Russian aggression, highlighting international efforts to curb Russian influence and support Ukraine's sovereignty amid ongoing conflict in the region. The financial sanctions are part of a coordinated Western response aimed at deterring Russian actions and promoting stability in Eastern Europe.