EU to increase Russia sanctions by 30%

The European Union plans to impose a new package of sanctions against Russia this fall, which will target one-third of the entities currently under restrictions. The goal is to increase pressure on Moscow after the existing sanctions have caused damages exceeding one trillion euros (approximately $1.16 trillion). This move is part of an effort to redraw the landscape of European membership. However, the details of the new package and the timing of its announcement have not yet been disclosed, despite the most recent sanctions package announced in July, which included restrictions on the banking sector and cryptocurrency networks in Russia to support Ukraine.

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