EU Imposes New Round Of Sanctions On Russia

France, the rotating presidency of the EU, announced that the EU has decided to impose a new round of sanctions on Russia. The main measures include canceling Russia’s most-favored-nation trade status, banning the import of Russian steel, exporting luxury goods to Russia, and prohibiting EU companies from investing in Russia’s oil and gas industries. . Separately, the EU is seeking to cancel Russia's membership in international organizations such as the International Monetary Fund and the World Bank. Although the EU sanctions have been escalated, they have not yet involved a ban on Russian oil and natural gas imports. In addition, the talks between Russia and Ukraine accelerated, and the international oil price (WTI) continued to fall.