The European Union on Thursday announced a fresh round of economic sanctions against Russia, joining the United States in tightening pressure on Moscow amid the continuing war in Ukraine.
The new measures, unveiled at an EU summit in Brussels, target Russia’s oil and gas exports, its aging fleet of tankers evading previous restrictions, and the country’s financial sector.
The sanctions, which also limit the movement of Russian diplomats across the 27-member bloc, aim to cut off critical energy revenues that fund President Vladimir Putin’s military operations.
“We waited for this. God bless, it will work. And this is very important,” Ukrainian President Volodymyr Zelensky said, urging other nations to follow suit.
The EU took nearly a month to finalize the sanctions package, its 19th since the invasion began. International crude prices rose by more than $2 per barrel after the announcement.
Meanwhile, the US imposed fresh penalties on Russian oil giants Rosneft and Lukoil.
In a show of defiance, Putin ordered drills of Russia’s strategic nuclear forces on Wednesday, signaling no intention to de-escalate the conflict.
