EU's Bold Sanctions Tackle Russia's War Economy

The European Union has taken a decisive stance by approving a new series of sanctions against Russia. The move, aimed at crippling Russia's economic resources used for the war in Ukraine, includes a lower cap on oil prices and bans on transactions associated with the Nord Stream gas pipelines.

EU foreign policy chief Kaja Kallas emphasized Europe's unwavering support for Ukraine, hailing the sanctions as one of the most substantial measures yet. Ukrainian President Volodymyr Zelenskyy praised the timely implementation of these sanctions in response to intensified Russian aggression.

This latest round of sanctions seeks to impede Russia's economic backbone, targeting key sectors like energy and finance. However, reaching a consensus among the EU member states is becoming increasingly challenging due to the potential backlash on European economies.

(With inputs from agencies.)