International

Maia Sandu on €90B loan to Ukraine and new sanctions on Russia: “EU shows unity is power”

The European Union (EU) has approved a €90 billion loan to Ukraine, along with a new set of sanctions targeting Russia. President Maia Sandu stated, “The EU demonstrates once again that unity is power”.

She emphasized that increasing support for Ukraine and applying more pressure on the aggressor is essential for ensuring a safer and more secure Europe. This message comes following the EU’s validation of the financial assistance package and the 20th round of sanctions against Russia on Thursday, April 23.

The European Council has approved its 20th package of sanctions against Russia, marking the most extensive set of measures in the last two years. The details of the package have been made public, targeting both individuals on the sanctions lists and key economic sectors that support Russia’s military efforts in Ukraine.

This latest round of sanctions aims to further cripple the Russian economy and its war machine while reaffirming the European Union's steadfast support for Ukraine.

Key components of the package include a ban on the maritime transport of Russian oil, restrictions on 46 oil tankers, and limitations on cryptocurrency transactions associated with Russia.

Additionally, 20 Russian banks will face extended sanctions, and 58 entities and individuals linked to the Russian military-industrial complex are also included.

The sanctions will impact over 60 companies from third countries, including those from China and the United Arab Emirates.

Starting in 2027, the measures will prohibit the provision of LNG terminal services to Russian companies and ban cybersecurity services for the Russian Federation.

Furthermore, traceability requirements for diamonds are being tightened to ensure that those sold in the market do not originate from Russia.

Included in the sanctions list is an organization based in Kyrgyzstan that manages an exchange where significant volumes of the A7A5 stablecoin are traded.

The European Union remains committed to increasing pressure on Russia to halt the war and create conditions conducive to real negotiations for a just and lasting peace.

Rodica Mazur

Rodica Mazur

Author

Read more