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EU to Impose Sanctions on More Russian Individuals & Belarus Banks

The European Union Commission is working on a new package of restrictive measures against Russian individuals and Belarusian banks.

The sanctions are believed to affect Russian oligarchs and politicians as well as banks based in Belarus, reports.

According to Reuters, the draft sanctions have already been approved by the European Union’s executive branch. However, the restrictive measures still need to be discussed and then formally announced.

The same revealed that the draft package would ban three Belarusian banks that are part of the SWIFT banking system. In addition, many Russian oligarchs and legislators have been added to the EU blacklist.

To date, the council has imposed sanctions on a total of 680 Russian individuals. The measures include freezing assets and prohibiting funds from being made available to them. Moreover, the penalties also include a travel ban. This means that all persons subject to restrictive measures cannot enter or pass through the territory of the European Union.

Commenting on the restrictions imposed so far on Russian individuals and entities, the High Representative for Foreign Affairs and Security Policy, Josep Borrell, said that with these measures, the EU wants to target all those who have an important role in supporting Putin. As well as those who benefit financially from the system.

>> EU imposes sanctions on an additional 26 people and one entity in response to Russia’s military aggression against Ukraine

As for Belarus, the council has imposed measures on 702 people and 53 entities so far. Similarly, citizens of Belarus are also subject to asset freezes and travel bans.

According to the Council, the decision to impose sanctions on Belarusian citizens and entities was made as individuals and entities contributed to the decision-making and strategic planning processes that led to Belarus’ involvement in the Russian invasion of Ukraine.

“Belarus’ involvement in the ongoing, unjustified and unjustified military aggression against Ukraine will have a heavy price,” Borrell said last week.

The Council revealed that Belarus was able to transfer Russian military personnel, tanks and other heavy weapons. Moreover, refueling points are provided for Russian military aircraft and storage of weapons and military equipment in the country.

Taking into account such measures, the Council has imposed further restrictions on the export of technology that can be used to contribute to the military, defense, security and technological development of Belarus.

The council has not yet revealed what sanctions will be applied to Russian individuals and Belarusian banks that will be added to the blacklist.

>> EU imposes sanctions on 22 more Belarusians and further restrictions on trade

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