BRUSSELS, Feb 23 — The European Union agreed new sanctions on Russia that will blacklist more politicians, lawmakers and officials, ban EU investors from trading in Russian state bonds, and target imports and exports with separatist entities.
“This package of sanctions that has been approved by unanimity by the member states will hurt Russia, and it will hurt a lot,” Borrell told a news conference alongside France’s foreign minister Jean-Yves Le Drian at a meeting in Paris. It was not immediately clear when the sanctions would take effect, but diplomats expect them in the coming hours or days, when names and details will be made public.
The EU had repeatedly said it was ready to impose “massive consequences” on Russia’s economy if Moscow invaded Ukraine but has also noted that, given the EU’s close energy and trade ties to Russia, it wanted to move in stages.