"Tightening War Funding" US Imposes Massive Sanctions on Russian Companies... EU Sanctions Iran for 'Supporting Russia'

EU Pushes for Special Allocation of 28 Trillion Won Military Support Fund for Ukraine

The United States is imposing sanctions on more than 120 Russian companies and individuals to cut off the funding sources of Russia, which invaded Ukraine. The European Union (EU) has decided to impose additional sanctions on Iran, which supplied drones to Russia, and has also extended the sanctions against Russia until January next year.

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On the 20th (local time), U.S. Secretary of State Tony Blinken stated in a press release, "These sanctions will restrict Russia's access to critical materials, future energy production and export capabilities, and use of the international financial system, and will also crack down on those involved in evading or circumventing sanctions."

The U.S. government sanctioned companies in the oil exploration, mining, and extraction sectors to prevent Russia from expanding its major funding source, the energy business. Shipping companies and vessels supporting logistics necessary for energy development, as well as subsidiaries of Rosatom, the state-owned nuclear power company, were also included in the sanctions. Additionally, five Russian banks were newly sanctioned, and companies based in Kyrgyzstan that helped Russia circumvent sanctions were added to the sanctions list.

The EU also took additional sanctions against Iran, which supplied drones to Russia, by banning the export of drone parts.

The EU Foreign Affairs Council decided to prohibit the export of EU-origin components used in the manufacture and production of unmanned aerial vehicles (UAVs) to Iran. Six Iranian nationals involved in the drones used in Russia's invasion of Ukraine and in the development and support of the Syrian regime's air defense systems were also added to the sanctions list. Their assets within the EU are frozen, and they are banned from entering the 27 EU member states.

Furthermore, the EU decided to extend the sanctions package against Russia until the end of January next year.

In addition, the EU is promoting a plan to allocate a total of 20 billion euros (28.5 trillion won) over the next four years as a military support fund for Ukraine. The plan aims to allocate 5 billion euros (7.1 trillion won) annually within the European Peace Facility (EPF) for Ukraine support, ensuring stable and continuous assistance over four years.

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