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The EU approves the ninth round of sanctions against Russia and aid of 18 billion euros for Ukraine

Politiko 2022-12-16 08:32:38

The EU approves the ninth round of sanctions against Russia and aid of 18

European Union ambassadors yesterday evening approved a ninth round of sanctions against Russia, while leaders gave the green light to an 18 billion euro aid package for Ukraine.

The new package of sanctions was finalized by ambassadors on the sidelines of a summit of EU leaders in Brussels.

The final text has not yet been published as it must first be sent and officially approved by all EU capitals, but is expected to be made public later today.

The Commission's proposal, published last week, planned for 200 other Russian individuals and entities to be hit with asset freezes and travel bans. This includes government ministers, legislators, regional governors, political parties and entities including the armed forces.

They will join 1,241 individuals and 118 entities already blacklisted. It also targeted Russia's defense industry, more Russian banks and mining sectors, and planned export controls on products such as chemicals, nerve agents, electronics and IT components that could be used by the armed forces.

The bloc has imposed no sanctions on Russian food and agricultural products so as not to exacerbate a worrying global food crisis. But measures against oligarchs prevent EU operators from participating directly or indirectly in trade flows involving entities they own.

To finance the aid and lend to Kiev at a highly concessional rate, the EU will increase its common debt, a proposal initially met with resistance from Hungary.

But Budapest lifted its veto earlier this week after EU countries agreed to allow the amount of EU funding it has frozen under the new rule of law mechanism from 7.5 billion euros to 6.3 billion euros.

Source: Euronews

 

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