site.btaEU Reaches Agreement on New Russia Sanctions Package

The Irish EU Council Presidency announced on Thursday that agreement had been reached on a new package of sanctions against Russia over its war in Ukraine. The agreement was reached during a meeting of EU Member States' representatives in Brussels and is expected to be formally approved by written procedure later in the day.

According to the Presidency, the sanctions target Russia's revenues, the so-called shadow fleet used to trade fuel while circumventing EU sanctions, and supply chains. It described the agreement as an important achievement secured in the first weeks of Ireland's Presidency of the Council of the EU and as an expression of European support for Ukraine.

European Council President Antonio Costa wrote on social media that the agreement represents a decisive step and reaffirmed the EU's support for Ukraine in achieving a just and lasting peace.

European Commission President Ursula von der Leyen said in a social media post that the new measures will target an additional 32 Russian banks, cryptocurrency and oil trading platforms, extend the price cap on Russian oil for another year, and constitute a step towards introducing an EU entry ban on Russian military personnel.