European Union imposes new sanctions on Russia and Belarus
The EU has added more Russian figures to its blacklist and targeted Belarus' banking sector.
European Commission President Ursula von der Leyen announced on March 9 that new sanctions from the European Union (EU) will target Belarus' banking sector and cryptocurrencies, including a ban on supplying maritime navigation technology to Russia and blacklisting 160 businessmen and many other lawmakers.
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| European Commission President Ursula von der Leyen. Photo: CEPS |
“We are further tightening sanctions in response to Russia’s military campaign in Ukraine, blacklisting more individuals, including oligarchs, members of the Russian Federation Council, the Belarusian banking sector, exports of maritime technology to Russia and cryptocurrencies,” Ursula von der Leyen said in a Twitter post.
Earlier the same day, France - the rotating presidency of the Council of the European Union (EU) - said that permanent representatives of the countries in the community had agreed on new sanctions against Russian leaders, businessmen and their families. The sanctions package is expected to take effect on the night of March 10.
Head of the Department of Economic Cooperation (Russian Foreign Ministry) - Mr. Dmitry Birichevsky said that Russia is currently studying economic response measures. Moscow will react quickly and effectively targeting sensitive areas of the West. /.