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BRUSSELS (UKTN) – The European Union on Thursday imposed increased sanctions on Russia over the war in Ukraine after bloc member states supported a range of measures, including gold imports and tightening export controls on some high-tech goods.

European Commission Ursula von der Leyen said the “strengthened, long-term EU sanctions against the Kremlin” “send a strong signal to Moscow: we will keep the pressure high for as long as necessary”.

The details of the sanctions were still unclear as they have yet to be published in the EU’s official journal.

EU officials have spent all week trying to tighten the comprehensive package of sanctions against Russia and look for ways to add a ban on gold exports in the hopes the measures could finally have a decisive impact on the war in Ukraine .

Josep Borrell, the EU’s foreign affairs chief, said on Monday that “the most important thing right now is a ban on Russian gold”, Moscow’s second largest export industry after energy.

The group of seven leading industrial nations already committed to a gold ban last month, arguing that Russia has used its gold to support its currency to sidestep the impact of several rounds of sanctions that countries around the world had already imposed on Moscow. for his February 24 invasion of Ukraine.

In addition to the restrictive measures, the EU also decided to allocate €500 million to boost military aid to Ukraine.

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Follow the UKTN’s coverage of the war at https://apnews.com/hub/russia-ukraine

EU imposes more sanctions on Moscow over invasion of Ukraine – UK Time News

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