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New EU sanctions package against Russia to affect 55 companies and over 60 people

New EU sanctions package against Russia to affect 55 companies and over 60 people The EU is preparing its weakest sanctions package yet (photo: Getty Images)

The European Union proposes to impose sanctions on about 55 companies and more than 60 individuals as part of a new package of measures to mark the second year of Russia's invasion of Ukraine, reports Bloomberg.

According to preliminary documents, the restrictions would target individuals and firms involved in the production of weapons and the supply of key technologies and electronics used by Russian military firms to build weapons.

The proposals, which require the support of all member states before they can be adopted, would also target shipping companies that provide transportation and logistics for the transportation of munitions from North Korea to Russia. North Korea has provided Russia with hundreds of thousands of artillery shells.

The sanctions package, which will be the 13th since the invasion, is expected to be limited in scope. A group of member states is calling on the bloc to be more ambitious and add new economic sanctions to the mix.

The current proposals also include sanctioning several military and other officials, and politicians, including Alexei Dyumin, a former bodyguard to Russian President Vladimir Putin and current governor of the Tula region, as well as company directors, the documents show. The lists are subject to change before they are agreed upon by member states.

The weakest package

The European Union has begun discussing a new package of sanctions, which it intends to approve by February 24, 2024.

In early February, the media reported that the new package would include more than 200 companies and individuals.

According to Reuters, the sanctions package will not include new restrictions on the import of Russian goods.