The European Union added new sanctions against Russia targeting its gold exports on Friday amid the continuing war in Ukraine.
A day before the latest sanctions, Ukrainian Deputy Prime Minister Olga Stefanishyna urged the EU to adopt new sanctions against Russia.
So far, the EU has approved six packages of sanctions on Russia with the last one passed in June that imposed a ban on most Russian oil imports.
“Russia’s brutal war against Ukraine continues unabated. Therefore, we are proposing today to tighten our hard-hitting EU sanctions against the Kremlin, enforce them more effectively and extend them until January 2023,” said EU Commission President Ursula von der Leyen in a statement on Friday.
“Moscow must continue to pay a high price for its aggression,” she added.
Sanctioning Russia’s gold exports is the latest development discussed at a G7 meeting in late June in which EU members Germany, France and Italy took part.
The United States, United Kingdom, Canada and Japan have already imposed the ban.
The European Union (EU) is an economic and political union between 27 European countries including Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain and Sweden.
