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EU officially ratifies a new round of sanctions against Russia

The sanctions will take effect immediately, after being published in the block’s official journal later today.

The sanctions include a sweeping ban on new investments in the Russian energy sector, the European Commission said in a statement. The measures will have a major impact on major Russian oil producers such as Rosneft, Transneft and Gazprom. However, despite the investment ban, the European Union will still buy oil and gas from these companies.

Under the new sanctions, European Union companies will no longer be allowed to export luxury goods, including jewelry, to Russia.

As for the steel import order from Russia, the European Commission estimates that this sanctions will cost this sector 3.3 billion euros, equivalent to 3.6 billion dollars.

Also in this package of sanctions, the European Union will freeze the assets of many Russian business leaders, among them the owner of football club Chelsea Abramovich.

The European Union reached a preliminary agreement on new sanctions against Russia on March 14, but until now, it has not been officially announced. The new sanctions come after the West has imposed many sanctions on Russia including freezing central bank accounts and removing Russian banks from the SWIFT interbank currency trading system.


According to Hong Nhung

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