💨 Abstract

The European Union (EU) has approved its most severe sanctions yet against Russia over its ongoing war with Ukraine. The new measures, approved by EU foreign policy chief Kaja Kallas, target 105 additional "shadow fleet" ships involved in fuel transport, impose new restrictions on Russian banks, and limit exports of technology used in drones. The sanctions also aim to pressure Russia's banking, energy, and military sectors, including introducing a new dynamic pricing cap on oil.

Courtesy: WTOP Staff