EU states have backed new sanctions on Russia

Ross J Burland FXStreet

Politico reported that Western countries have ''slapped a new round of sanctions on Russia in the nick of time on Friday, striving to present a united front as the world marked the first anniversary of Vladimir Putin’s invasion of Ukraine.''

The article reported that ''in a show of solidarity with Kyiv, both the US and the UK imposed sanctions earlier on Friday.''

It has been confirmed today that EU states have backed new sanctions after a clash between Poland and Italy held up the process for days.

For a list of new sanctions, see here. Among them, they include about ''120 individuals and entities on the sanction list. New export restrictions have been introduced on sensitive dual-use and advanced technologies that contribute to Russia's military capabilities and technological enhancement, based on information received from Ukraine, our Member States and our partners. Today's package imposes import bans on the following Russian high-revenue goods:

Bitumen and related materials like asphalt; and
Synthetic rubber and carbon blacks.

Three Russian banks have been added to the list of entities subject to the asset freeze and the prohibition to make funds and economic resources available. Today's package imposes new reporting obligations on Russian Central Bank assets.''

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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