‘U.S. PILES NEW SANCTIONS ON RUSSIA ON WAR’S ANNIVERSARY
Why in the news?
- The United States and the European Union have announced new sanctions on Russia, coinciding with the second anniversary of Russia’s invasion of Ukraine.
- These sanctions are imposed as a response to various actions, including the recent death of prominent Kremlin critic Alexei Navalny in a Russian prison.
source:theEconomist
U.S. Sanctions on Russia and EU Asset Freezes: Key Points
U.S. Treasury Department Sanctions:
- Over 500 new sanctions aimed at Russia’s financial sector, defense industry, and procurement networks.
- Largest penalty wave since Russia’s 2022 invasion of Ukraine.
EU Sanctions and Asset Freezes:
- The EU freezes assets of foreign firms exporting dual-use goods to Russia.
- Targets include Russian officials, judiciary members, and local politicians.
- This marks the 13th EU sanctions package against entities undermining Ukraine’s sovereignty.
About Black Sea Grain Initiative:
· Cooperative agreement on grain exports. · Signed separately by Ukraine and Russia. · Brokered with mediation from Turkey and the United Nations. Purpose: · Stabilise markets,Ensure adequate grain supplies,Mitigate food price inflation. Key Points about the Black Sea (Euxine Sea): · Also referred to as the Euxine Sea. · A marginal sea of the Atlantic Ocean. · Positioned between Eastern Europe and Western Asia. · Bordered by six countries: Russia, Ukraine, Georgia, Turkey, Bulgaria, and Romania. · Connected to the Sea of Azov via the Strait of Kerch. |