The European Union has approved the fourth package of sanctions against Russia

Alvina Kaminska

The EU Council on Tuesday finally approved a fourth package of sanctions against Russia

This was reported by EP.

"As President Putin's war against the Ukrainian people continues, our determination to support Ukraine and damage the Kremlin's military machine is growing.

This fourth package of sanctions is another major blow to the economic and logistical base on which Russia relies to invade Ukraine.

The purpose of the sanctions is for President Putin to stop this inhuman and senseless war," said European Foreign Minister Josep Borrell.

By its decision, the EU Council decided:

to prohibit any transactions with certain state enterprises of the Russian Federation;

prohibit the provision of any credit rating services, as well as close access to any subscription services related to credit rating activities to any Russian individuals or legal entities;

to expand the list of persons connected with the Russian defense industry base, which are subject to stricter export restrictions on dual-use goods and goods and technologies that can contribute to the technological improvement of Russia's defense and security sector;

to ban new investments in Russia's energy sector, as well as to introduce comprehensive export restrictions on equipment, technologies, and services for the energy sector;

impose further trade restrictions on cast iron and steel, as well as luxury items.

In addition, the EU Council has decided to impose sanctions on key oligarchs, lobbyists, and propagandists who promote the Kremlin's narrative of the situation in Ukraine.

As well as key companies in the aviation, military and dual-use sectors, shipbuilding and mechanical engineering.

Separately, the EU Council gave the European Commission the green light to join on behalf of the EU in the multilateral declaration of aggression by the Russian Federation against Ukraine with the support of Belarus, which is expected to be published in the WTO context.

The EU Council has announced that the relevant legislation will soon be published in the Official Journal of the EU.

As Rubryka previously reported, the fourth package of sanctions envisages new restrictions against Russia's largest oil companies, Rosneft, Transneft, and Gazprom Neft.

However, the EU will continue to buy oil from them.

Under the fourth package of sanctions, the EU will ban the export of luxury goods to Russia, including expensive cars.

European Commission President Ursula von der Leyen has previously said that a ban on the import of Russian steel and iron products will also be imposed.