EU bans investment in Russian energy in new sanctions barrage

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The European Union formally approved on Tuesday a new barrage of sanctions against Russia for its invasion of Ukraine, which include bans on investments in the Russian energy sector, luxury goods exports and imports of steel products from Russia

The sanctions, which come into effect after publication in the EU official journal later on Tuesday, also freeze the assets of more business leaders who support the Russian state, including Chelsea football club owner Roman Abramovich.

The package also prohibits EU credit rating agencies from issuing ratings for Russia and Russian companies, which the Commission says will further restrict their access to European financial markets.The latest sanctions follow three rounds of punitive measures which included freezing of assets of the Russian central bank and the exclusion from the SWIFT banking system of some Russian and Belarusian banks.

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Yes, EU is also busy shooting itself in the foot and then complain that it's Putin and not the sanctions that drive up the cost of living for EU citizens. I'm sure the US president would never do something like that,right?

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How stupid…. You are driving Russia in China arms. You are creating multipolar currency. Now most countries who trade with China will use rmb as a reserve currency. Sanctions don’t work. Eg: Iran. Russia has seen sanctions coming has insulated itself against it. Putin not stupid

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