October 3, 2022

Westside People

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War in Ukraine | The European Union extends its sanctions on Moscow and Minsk

(Brussels) Twenty-seven Wednesday, following the invasion of Ukraine, Moscow and Minsk decided to extend their sanctions, specifically cutting off three Belarusian banks from the international financial platform Swift, and announcing the French leadership of the European Council.

Posted at 7:52

At a meeting in Brussels, representatives of member states added Russian leaders and oligarchy to their block list and adopted new sanctions targeting the “maritime sector”, adding the same source on Twitter.

Europeans have expanded their list of technologies and products that can not be exported to Russia, and have “clarified” the restrictions imposed on cryptocurrencies.

The G7 and the European Union announced last week that they were trying to prevent Russia from using cryptocurrencies to find holes in Western sanctions.

After the invasion of Ukraine, the cryptocurrency purchase of the ruble has risen all the time as the United States and its Western allies have imposed a series of sanctions aimed at freezing the banking sector and the Russian currency.

Twenty-seven of the measures decided on Wednesday, which will take effect after the formal agreement of the states and are published in the official journal of the European Union, are aimed at “completing” the three sets of sanctions previously adopted by the EU. Two weeks later, the EU Council underlined its French presidency.

For some, Swift is a secure news platform that allows operations such as payment orders and money transfer orders between banks, excluding Belarusian banks, especially preventing them from avoiding the same activity that affects many Russian banks.

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Since the annexation of Crimea in 2014, the European Union has already allowed 680 people and 53 companies to enter its territory and freeze assets in Europe.

Since the end of February, twenty-seven have frozen the assets of the Russian central bank located outside Russia, blocked Russian financial institutions from accessing European capital markets and cut off seven Russian banks from the Swift International Monetary Fund.

Europe has also closed its airspace to Russian companies and banned the export of aerospace parts and technology to Russia.