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EU unveils fourth set of sanctions against Russia

Europe Materials 11 March 2022 23:50 (UTC +04:00)
EU unveils fourth set of sanctions against Russia

The European Union will suspend Moscow's privileged trade and economic treatment, crack down on its use of crypto-assets and ban exports to Russia of EU luxury goods and import of iron and steel goods, the head of the European Commission said on Friday, Trend reports citing CNA.

The new measures amount to a fourth set of sanctions against Russia, coordinated with the United States and other G7 allies.

"Tomorrow, we will take a fourth package of measures to further isolate Russia and drain the resources," Ursula von der Leyen said.

Along with other western allies, such as the United States, the bloc will revoke Russia's "most-favoured nation" trade status.

As a first step, the EU will prohibit imports of iron and steel sector goods.

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