EU struggles to approve 10th round of sanctions against Russia

© Reuters Headquarters of the European Commission, in Brussels.

/Photo taken on February 1/2023/REUTERS/Yves Herman Photo TWTR +0 00% Add to/Remove from portfolio Add to Watchlist Add position Position successfully added to: Please name your securities portfolio Type: Buy Sale Date: Quantity: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create New Watchlist titles Add Create + Add another position Close by Gabriela Baczynska BRUSSELS (Reuters) - Member countries of the European Union adopted with difficulty on Friday, the first anniversary of the Russian invasion of Ukraine, a tenth package of sanctions against Russia, announced Sweden, President-in-Office of the Council of the EU.

"Together, EU member countries have imposed the most powerful and far-reaching sanctions ever to help Ukraine win this war," Sweden's EU Presidency wrote on Twitter (NYSE: TWTR) "The EU stands united with Ukraine and the Ukrainian people.

We will continue to support Ukraine for as long as necessary " This new sanctions package consists in particular of a strengthening of restrictions on the export of civilian or military dual-use goods to Russia and of measures against entities supporting Russia's war effort and communication as well as the delivery of drones to the Russians.

The Twenty-Seven pulled off this agreement when they only had two hours left to do so on this symbolic date of the first anniversary of the war in Ukraine They had to overcome the reluctance of Poland, a hard-liner towards Russia, for whom the measures envisaged against imports of Russian rubber provide for too many exemptions and such a transition period that they will be ineffective in practice.

Some EU countries were annoyed that this Polish firmness on just one part of a larger set of measures put the EU-27 at risk of not being symbolically able to announce new sanctions against Russia on day of the first anniversary of the war in Ukraine "It's a very bad perception of things.

What should be essential here is and cut more than €10 billion more in trade between the EU and Russia, according to the European Commission (Written by Gabriela Baczynska and Sabine Siebold, French version Bertrand Boucey).