EU agrees on anti-Russia sanctions' 9th package

The permanent representatives of EU countries on Thursday evening agreed on the ninth package of sanctions against Russia, the permanent representation of the Czech Republic said.

The final technical procedure for executing the sanctions is expected to be completed on Friday, after which the sanctions would be published in the EU Official Journal and would come into force.

The EU's executive arm on Wednesday proposed imposing new sanctions on Russia's armed forces, three banks, and several officials, as part of the bloc's anti-Russia sanctions over the war in Ukraine.

The EU has already imposed eight waves of unprecedented anti-Russia sanctions since the start of the Ukraine war in February, including targeting Russian key oil exports.

EU ambassadors were to start discussing the new proposed package late Wednesday. The agreement requires unanimity of all 27 member countries.

European Commission President Ursula von der Leyen indicated that the EU would now look to add "almost 200 individuals and entities" to its visa ban and asset freeze blacklist, including military officers, ministers, and defense firms.

Von der Leyen said the commission was also proposing sanctions on three additional banks, including the Russian Regional Development Bank.

She added that the bloc is eyeing a ban on supplying drone engines to Russia and Iran, despite Tehran denying selling Russia drones to use in the war against Ukraine.

It will, in addition, aim to take four additional Russian TV channels off the air and ban new mining investments in the country.

As EU countries discuss the new measures, there is concern that Hungary could oppose the ninth wave of anti-Russia sanctions as it is locked in a bitter standoff with Brussels over frozen EU funds.

The EU, along with its partners in the G7, introduced measures this week aimed at capping the price of Russian oil sold on the world market. The EU's ban on seaborne crude imports from Russia also came into force, after initially being agreed upon early this year.

The US Office of Foreign Assets Control has waged sanctions on 17 subsidiaries of Russia's VTB Bank, the latest addition to the plethora of US sanctions waged against Russian institutions, as announced by the US Treasury Department on Thursday.

Washington also issued a general license that authorizes only certain energy-related transactions with Russian entities through May 16, 2023, according to the statement.