The European Union today approved new sanctions against Russia, a decision prompted by the ongoing conflict in Ukraine. The Belgian Presidency of the Council of the EU made the announcement, marking a critical step in the international response to the situation, reports BTA.
The newly approved measures aim to increase pressure on Russia by addressing and correcting loopholes found in previous sanctions. Improvements are designed to further limit Russia's access to key technologies and cut off significant revenue streams from energy sales.
Ursula von der Leyen, President of the European Commission, emphasized the emphasis on targeting the ambiguous “phantom fleets” of Russia and obscure banking networks operating internationally.
A notable aspect of the updated sanctions is their effect on trade in Russian LNG. In contrast to outright bans on Russian coal and oil, the EU has taken a more nuanced approach with LNG.
European countries can continue to import it from Russia, provided there is no re-export of the shipments received. The decision reflects the EU's attempt to balance punitive measures against Russia with the need to manage its own energy supplies.
The EU's decision to increase sanctions demonstrates a united stance against aggression in Ukraine, aimed at putting increased pressure on Russia while tackling the complexities of international trade and energy dependence.