New EU sanctions target 'Putin's war machine'
Oct. 6 (UPI) -- Sweeping new sanctions imposed on Russia, including a price cap on its crude oil, are proof of Europe's resolve to "stop Putin's war machine," the bloc's foreign policy chief said.
The European Union adopted a new package of sanctions against Russia after it illegally annexed the Donetsk, Luhansk, Zaporizhzhia and Kherson regions of Ukraine. What the bloc referred to as "biting measures" include a price cap on maritime shipments of Russian crude oil to third-party importers.
"This new sanctions package against Russia is proof of our determination to stop Putin's war machine and respond to his latest escalation with fake 'referenda' and illegal annexation of Ukrainian territories," EU foreign policy chief Josep Borell said Wednesday. "The EU will stand by Ukraine for as long as it takes."
Russia draws heavily on revenue from its oil and natural gas exports to fuel its economy. Sweeping sanctions targeting that revenue stream since the war in Ukraine erupted in late February have so far not exacted the heavy toll that was expected.
https://www.msn.com/en-us/news/world/new-eu-sanctions-target-putin-s-war-machine/ar-AA12FskP
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