EU Approves Sanction Package Against Russia

The European Union (EU) approved a new package of sanctions against Russia in response to its military operation in Ukraine that entered into its third year. The EU's 14th package of sanctions against the Russian Federation will feature for the first time restrictive measures against Russian Liquefied Natural Gas (LNG). Furthermore, the package imposes a wide range of restrictions on Russia with regard to trade, finance, energy, industry, technology, transportation, dual-use goods, luxury goods, as well as gold and diamonds. It will also give the bloc more tools to take strict measures against sanction circumvention, and target 116 individuals and entities said to be "Responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine." Moreover, following a transition period of 9 months, the use of EU ports for the transshipment of Russian LNG will also be prohibited. The package also prohibits the import of Russian LNG into specific terminals that are no t connected to the EU gas pipeline network. Source: Qatar News Agency