EU Sanctions: A New Wave Against Russia
Germany anticipates the EU's 18th sanctions package targeting Russia to be adopted soon. Discussions are underway at the ambassadorial level, with considerations after the European Commission's visit to Slovakia. This sanctions package targets Russia's energy revenues, banks, and military industry amidst the ongoing Ukraine conflict.
- Country:
- Germany
Germany is poised for the European Union's adoption of its 18th sanctions package against Russia this week, as stated by a government spokesperson in Berlin. This move comes in response to Russia's prolonged aggression towards Ukraine.
The sanctions, initially proposed by the European Commission on June 10, aim to impact Moscow's financial and industrial sector significantly. Key targets include energy revenues, banking institutions, and military industries, emphasizing a strategic economic response to the conflict.
Currently, the proposal is being reviewed at the ambassadorial level and is set for further evaluation following the European Commission's visit to Slovakia later this week. Germany's involvement underscores its commitment to reinforcing EU's collective stance against Russian hostilities.
(With inputs from agencies.)
ALSO READ
Public Sector Banks Gear Up for Subsidiary Listings
Germany's Continued Support for Ukraine Amid Warfare
Federal Reserve Stress Test Confirms Resilience of Large US Banks Amid Hypothetical Recession
Germany and Israel Unite for Cybersecurity Advancements
Macro stress tests affirm most banks have adequate capital buffers, validate resilience of mutual funds, clearing corporations: RBI report.
Google News