The Russia’s invasion of Ukraine has shattered the world peace and economy and caused a turmoil in the Ukraine, causing mass migration and loss of innocent lives. The world, however, stands in solidarity with Ukraine and has shown its support by isolating Russia in every aspect.
Reportedly, the European Union has agreed to include more of the Russian officials and oligarchs to the list of its sanctions, target the maritime sector, and strict rules on cryptocurrency transfer.
As per credible sources, the 27-nation bloc gave a green signal to cut off three of Belarusian Banks from the international SWIFT messaging system because of Minsk’s support for the Kremlin’s attack, the mission of French, which consists of the European Union’s rotating presidency.
For the uninitiated, the European Union is planning to cover up loopholes in the first ever barrage of sanctions it has put on along with the Western allies, post Russian President Vladimir Putin initiated the Ukraine invasion.
The stringent sanctions aim primarily towards cryptocurrencies to restrict the blacklisted companies and individuals from utilizing the encoded digital system to circumvent the European Union’s sanctions.
Furthermore, the bloc is also incorporating a series of banned technologies which can be exported to Russia as it aims to destroy the industrial base of the country.
However, the complete details regarding sanctions are to be unveiled shortly when they will be published formally in the European Union’s official journal.
Meanwhile, to put a stop to the war, the European Union is still trying to ratchet up burden on the Kremlin and the representatives declaring that they are ready to impose more sanctions if they don’t stop.
For the record, the bloc has until now rejected aiming towards Russia’s main gas and oil exports due to the reliance of the member states on energy from the big eastern neighbor.
Source Credits:- https://economictimes.indiatimes.com/news/international/world-news/eu-agrees-to-toughen-sanctions-on-russia-belarus-over-ukraine/articleshow/90100076.cms