EU Approves 2nd Round of Sanctions on Russia... "Including Financial, Energy, and Export Controls"

Ursula von der Leyen, President of the European Commission

[Asia Economy Reporter Jeong Hyunjin] On the 24th (local time), the European Union (EU) imposed financial sanctions targeting 70% of Russia's financial market and key state-owned enterprises, and decided to restrict Russia's access to critical technologies such as semiconductors and advanced software.

According to The Guardian and others, Ursula von der Leyen, President of the European Commission, announced that approval was given for another large-scale sanctions package against Russia on this day.

First, the EU decided to impose financial sanctions on 70% of Russia's financial market and Russian state-owned enterprises, including those in defense. It also imposed export bans on the energy sector, a key driver of Russia's economy, to inflict damage, and blocked transactions involving Russian aircraft and equipment. Additionally, it restricted Russia's access to critical technologies such as semiconductors and advanced software, and decided not to grant visa privileges to diplomats and businesspeople traveling to the EU.

President von der Leyen said, "This event marks the beginning of a new era. Russian President Vladimir Putin is trying to dominate European countries that have shown friendly attitudes and is attempting to redraw the map of Europe by force," adding, "He must fail, and he will fail."

This content was produced with the assistance of AI translation services.