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View all search resultsEU debates 11b euro of trade curbs in new Russia sanctions
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R
epresentatives of the 27 European Union countries were to meet in Brussels on Wednesday to discuss a new batch of sanctions against Russia, which the head of the bloc's executive said could cost 11 billion euros (US$11.78 billion) in lost trade.
The bloc was expected to agree to new sanctions to mark the one-year anniversary of Russia's invasion of Ukraine on Feb. 24, but the specific proposals must yet win the unanimous backing of all EU member states.
"We are weakening Russia's ability to maintain its war machine. We have adopted nine packages of sanctions. The Russian economy is shrinking," European Commission President Ursula von der Leyen said.
"We need to keep up the pressure," she told the European Parliament ahead of the closed-door talks among the 27 national envoys in Brussels.
"We're talking about 11 billion euros. We are suggesting restrictions on some dual-use and electronic components used in Russian armed systems such as drones and missiles and helicopters," she said, describing the looming 10th sanctions package, which could also target Iran for helping Russia's war.
"There are also hundreds of drones manufactured in Iran, used by Russia, in the battlefield in Ukraine. These Iranian drones kill Ukrainian civilians [...] so for the first time we are also suggesting sanctions targeting Iranian economic operators, including those linked to the Revolutionary Guards."
