EU approves 8th package of sanctions against Russia, attempts to ‘isolate and hit Russian economy’

Brussels: The EU has adopted a new package of sanctions to step up and strengthen restrictive measures against Russia, the EU Council said in a statement. The eighth round of EU sanctions came in response to “the illegal annexation of Ukraine’s Donetsk, Luhansk, Zaporizhzhya and Kherson regions,” the statement said on Thursday.

The new measures include the G7 (Group of Seven) price cap in existing sanctions against Russian oil, extend restrictions on services, exports and imports and add more individuals and entities to the sanctions list, the Xinhua news agency reported.

The package lays the groundwork for introducing a price cap for the maritime transport of Russian oil to third countries and further restricts the maritime transport of crude oil and petroleum products to third countries.

Also read: ‘Russian President Vladimir Putin will not SURVIVE a nuclear war,’ warns Ukraine’s Volodymyr Zelenskyy

The package also includes sanctions against individuals and entities involved in the organization of “illegal referenda”, representatives of the defense sector and known persons spreading disinformation about the crisis in Ukraine. European Commission President Ursula von der Leyen said last week that the package would further restrict trade in order to “isolate and affect the Russian economy even more”.

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