European Union approves new sanctions against Russia

BRUSSELS, Oct. 06 (YPA) – The European Union on Thursday approved a package of eight sanctions against Russia, in response to the annexation of Ukrainian regions.

The European Council announced, in a statement, that the member states had formally ratified the decision of the sanctions package against Russia.

The new package of sanctions aims to increase pressure on the Russian government and economy, and weaken Moscow’s military capabilities.

The package includes imposing additional restrictions on the transportation of Russian oil and its derivatives by sea to third countries, as well as imposing a ceiling on the prices of Russian oil exported to other countries.

The package also provides for new restrictions on trade between Russia and the European Union, and extends the framework for banning European steel exports to Russia. It also includes a ban on the export of wood paste, paper, cigarettes, plastics, cosmetics and precious stones from Russia to the European Union.

Last Friday, Russian President Vladimir Putin signed a document annexing the Ukrainian regions of Donetsk, Lugansk, Kherson and Zaporizhia, amid widespread rejection and condemnation from the West.

YPA