EU reaches preliminary deal on Russia economic sanctions

  • 2/10/2023
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BRUSSELS, Ramadan 28, 1435, July 25, 2014, SPA -- European Union ambassadors reached a preliminary agreement on Friday to push ahead with hard-hitting economic sanctions against Russia over the Ukraine crisis but details remained to be worked out, diplomats said, according to Reuters. The 28-nation EU has toughened its stance towards Moscow since last week's downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed separatists. After a discussion that lasted all day Thursday and part of Friday, ambassadors asked the EU's executive Commission to draw up a legal text setting out economic sanctions that the EU would impose for possible agreement next week. Key measures suggested by the Commission included closing EU capital markets to state-owned Russian banks, an embargo on arms sales to Moscow and restrictions on the supply of energy and dual-use technologies. They would not affect current supplies of oil, gas and other commodities from Russia, diplomats said. --SPA 15:20 LOCAL TIME 12:20 GMT www.spa.gov.sa/w

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