The EU has announced new 21st sanctions package against Russia due to the attack on Ukraine on Tuesday.
EU announced new Russia sanctions, may hit India-based firms: The EU has announced a new 21st sanctions package against Russia due to the attack on Ukraine on Tuesday. It will impose export control measures on 50 companies from India and other countries that do business directly with the Russian military, EU announced.
The European Union has shocked 50 companies across the world, including India and China. This decision has been taken with the aim of increasing pressure on Russia’s war economy. At least 50 companies across the globe will be affected by this 21st sanctions package.
EU High Representative for Foreign Affairs and Security Policy Kaja Kallas said the measures were aimed at curbing Moscow’s ability to finance and maintain military operations in Ukraine. She said, ‘We are gradually destroying the foundations of Russia’s war economy, and now Brussels is preparing the largest list of sanctions against Russia in more than two years.’
According to Kallas, the assets of about 90 banks may be seized. while further transaction bans may target over 30 banks in Russia and other countries. Apart from this, there are plans to ban transactions on 11 crypto currency platforms. In the meantime, she also said that the European Union is also trying to impose a temporary stop on the price limit of Russian oil to reduce the revenue from Russian energy exports.
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