Industry Odisha Bureau, Jun 10: In a bid to tighten pressures on Russia’s war economy, especially against its invasion of Ukraine, the European Union (EU) reportedly unveiled a set of fresh sanctions to be slapped on Russia following which certain India-based entities are very likely to bear the brunt.
As per media reports, European Commission (EC) Vice President (VP) Kaja Kallas said that: “The EU is all set to impose export restrictions on companies based in India, China, Turkiye, Kyrgyzstan, Kazakhstan and the United Arab Emirates (UAE) as well as more than 30 new ones dealing in drone manufacturing in association with Russia. This move is aimed at causing Russia’s war economy get collapsed.”
In his social media post, EC VP Kallas also reportedly said: “EU’s initiative is to freeze Russia’s oil price cap and impose new restrictions on resale of LNG tankers to Russia. 30 additional vessels linked to Russia’s shadow fleet will also be subjected to the sanctions apart from two Russian seaports and four airports. Also, the fresh set of sanctions targets nearly 90 banks where the assets would be frozen. Eleven cryptocurrency platforms are also going to face the transaction bans.”
