Russian news agency TASS reported today, Monday, that the European Union has imposed sanctions on 116 individuals and entities from Russia.
It added that the EU has included 61 companies from Russia, China, the UAE, and Turkey in the 14th package of sanctions.
Additionally, restrictions have been imposed on the export of dual-use technologies.
The European Union has also banned investments and the provision of goods, technologies, and services for completing liquefied natural gas projects such as “Arctic 2” and “Murmansk.”
Belgium’s Foreign Minister stated that EU countries have reached an agreement on using frozen Russian asset profits for the benefit of Ukraine.
Meanwhile, EU’s foreign policy chief, Josep Borrell, announced that the EU has developed a mechanism allowing bypassing Hungary’s veto on arms purchases for Kyiv using income from frozen Russian assets.
Borrell stated in an interview with the Financial Times that Budapest, which previously rejected the proposal to use Russian assets, “should not participate in the decision-making process regarding their use,” noting that the veto bypass mechanism will be “as complex as any legal decision, but successful.”
Last week, EU countries agreed to impose a “strong and significant” batch of sanctions on Russia in an attempt to tighten the noose on Russia’s war effort against Ukraine, as announced by Belgium, which currently holds the EU presidency.
Belgium’s presidency on the “X” platform wrote that “this package provides new targeted measures and enhances the impact of current sanctions by closing loopholes.”
The US Treasury Department recently announced a significant expansion of sanctions, targeting over 300 entities and individuals to disrupt Russian military production capabilities amid the ongoing conflict in Ukraine.
