EU planning to add to $1.5 trillion sanctions hit on Russia
Summary
The European Union plans to add new sanctions against Russia to increase economic pressure due to its war in Ukraine. The EU aims to target 80 more individuals and companies linked to Russia’s military and propaganda efforts while also discussing funding to support countries supplying weapons to Ukraine.Key Facts
- The EU wants to expand sanctions that have already cost Russia about $1.2 to $1.5 trillion.
- The new sanctions would target 80 more people and entities related to Russia’s military and human rights abuses.
- EU foreign policy chief Kaja Kallas said the sanctions are weakening Russia’s war economy.
- EU defense ministers discussed a 6.6 billion euro fund to reimburse countries for weapons sent to Ukraine and possibly buy new weapons together.
- Hungary recently agreed to stop blocking this weapons reimbursement fund after a change in its prime minister.
- The EU extended sanctions in March against around 2,600 individuals and groups.
- The U.S. has eased some sanctions related to Russian oil amid energy market challenges linked to the US-Israel conflict with Iran.
- Russian attacks on Ukraine continue, including a recent strike killing five people in the Zaporizhia region.
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