The new package of EU sanctions against Russia is expected to be formalized later on July 21, Politico reported, citing diplomatic sources.
The measures will target 48 more individuals, nine groups and companies. They will also include a ban on Russian gold imports, including jewelry, and restrictions on the Russian Sberbank.
However, the EU is also expected to introduce exceptions for "the purchase, import or transport of agricultural and food products, including wheat and fertilizers" of certain banks that have been sanctioned. The move is made in an attempt to counter Russia's accusations blaming the EU sanctions for the global food crisis.
European Commission President Ursula von der Leyen welcomed the new package, saying that it sends a strong signal to Moscow.
“We will keep the pressure high for as long as it takes,” she wrote on Twitter.
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