The European Union (EU) agreed on 10 rounds of sanctions against Russia on the first anniversary of Russia’s attack on Ukraine.
Sweden, the European Union presidency, said on Twitter on the 24th that “EU member states are imposing the strongest and most extensive sanctions ever to help Ukraine win the war.”
“The EU stands united with Ukraine and will continue to support Ukraine as long as necessary,” he added.
The aim of the sanctions is to prevent Russia more broadly from acquiring the technology and equipment it needs to finance and arm the war.
An EU diplomat told AFP that around 120 individuals, institutions, organizations and banks are subject to sanctions.
Another diplomat explained that there was no compromise of the proposed sanctions package.
The EU Commission previously proposed a package of sanctions to member states, including an export ban worth 11 billion euros and about 15 trillion won in Korean currency.
The sanctions include export restrictions on around 50 electronic components used in Russian weapons systems, including drones, missiles, and helicopters, and sanctions against groups that propagate or support the spread of Russian war will have strengthen them.
Earlier, the President of the European Commission, Ursula von der Leyen, said in a statement that the sanctions would include banning Russian companies from importing machine parts, antennas, cranes, special vehicles, trucks and engine spare parts from third countries, including China, he said he would.
It also blocks access to SWIFT, the widely used international financial transaction system, for more Russian banks, including Russia’s largest private bank Alphabank and digital bank Tincorp.
The EU reached an agreement two hours before midnight on the 24th after repeatedly failing to reach an agreement as Poland previously raised disagreements over the extent of sanctions exemption for Russian synthetic rubber.
A diplomat from Poland told the dpa news agency that the country has agreed to a 10th round of sanctions on the condition that imports of synthetic rubber from Russia are checked regularly.
Details, such as the list of individuals and organizations subject to sanctions, will be published in the Official Journal of the EU on the 25th local time, and will come into effect at the same time as the announcement.
Russia’s TASS news agency cited this part as the EU approved the sanctions, but “failed to send a symbolic gesture by imposing sanctions within 24 days, the first anniversary of the start of the special military operation.”
The EU intends to continue working towards sanctions on Russia’s nuclear sector in the future.
In addition, dpa said it will continue to expand the scope of application of existing sanctions to prevent non-EU companies from supplying civilian items that could be used as weapons, such as drones, to Russia.
YTN Wonbae Kim (wbkim@ytn.co.kr)
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