The European Union formally approved on Tuesday a new barrage of sanctions against Russia for its invasion of Ukraine, which include bans on investments in the Russian energy sector, luxury goods exports and imports of steel products from Russia
The sanctions, which come into effect after publication in the EU official journal later on Tuesday, also freeze the assets of more business leaders who support the Russian state, including Chelsea football club owner Roman Abramovich.
The package also prohibits EU credit rating agencies from issuing ratings for Russia and Russian companies, which the Commission says will further restrict their access to European financial markets.The latest sanctions follow three rounds of punitive measures which included freezing of assets of the Russian central bank and the exclusion from the SWIFT banking system of some Russian and Belarusian banks.
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