EU Is Weighing Fresh Sanctions on $5.3 Billion in Russian Trade
- 12th sanctions package would hit both imports and exports
- Measures also target sanctions evasion through third countries
The European Union is weighing a new round of restrictions that would hit some €5 billion ($5.3 billion) in trade with Russia as part of a sanctions package targeting Moscow for its war against Ukraine.
The bloc’s 12th package since Russia launched its invasion last year will tighten restrictions on Moscow’s revenue sources and industry and curtail the Kremlin’s ability to feed its war machine. Vast swathes of Russia’s economy have already been targeted, leaving EU policymakers to plug gaps, use targeted measures and tighten existing sanctions.
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EU Is Weighing Fresh Sanctions on $5.3 Billion in Russian Trade