EU agrees new sanctions to target people accused of backing Russian war effort

The sanctions are meant to undermine Russia’s economy and drain funds for its war effort, but they are also increasingly inflicting pain on European economies.

Hundreds of thousands of troops The EU is to impose fresh sanctions on Russian officials and organisations (Ukrainian Presidential Press Office via AP, File)

The European Union agreed on Saturday to impose new sanctions on Russia over its invasion of Ukraine targeting more officials and organisations accused of supporting the war, spreading propaganda or supplying drones, as well as restricting trade on products that could be used by the armed forces.

The EU’s Swedish presidency said the sanctions “are directed at military and political decision-makers, companies supporting or working within the Russian military industry, and commanders in the Wagner Group. Transactions with some of Russia’s largest banks are also prohibited.”