EU finalizing new round of sanctions on Russia for ‘barbaric’ invasion

The European Union is finalizing a new round of sanctions on Russia for its “barbaric” invasion of Ukraine.

European Commission Vice President Josep Borrell Fontelles on Monday said the fourth round of penalties will take aim at Moscow’s market access, membership in financial groups and steel and energy sectors, according to The Associated Press.

“We are listing more companies and individuals playing an active role in supporting the people who undermine Ukrainian sovereignty,” Borrell said after speaking with North Macedonian Prime Minister Dimitar Kovachevski, according to the AP.

“This would be another major blow [to the] economic and logistic base upon which the Kremlin is building the invasion,” he added.

The EU has already sanctioned key members of Russian President Vladimir Putin’s inner circle, in addition to Russian politicians, oligarchs and entities. The bloc has also placed penalties on Russia’s financial, energy and transport sectors, as well as imposing exports control and limits on export financing and visas.

The 27-country bloc first imposed penalties against Russia on Feb. 22 after Putin recognized two separatist regions of eastern Ukraine as independent. Russia launched its invasion two days later. 

The EU is also considering a membership request from Ukraine. Kyiv has asked that its membership process be fast-tracked amid the conflict — the EU is known for having a years-long process to bring in new members.