EU and UK hit Russia with wider sanctions that target luxury

KIFI

Published March 15, 2022 12:16 PM

By RAF CASERT
Associated Press

BRUSSELS (AP) — The European Union have slapped a new round of sanctions against Russia, seeking to deny oligarchs their love of luxury and block Russia from cashing in on its lucrative steel exports. The 27-nation EU on Tuesday sought to stay away from sanctions that would sap its supply of Russian energy but pounced with measures worth billions while stifling Russia’s ability to work on global markets by banning EU rating agencies from working with Russian clients. The sanctions affected everything from pure-bred horses to truffles, from soccer club owners to media company chiefs. Britain announced also sanctions against 350 Russian individuals and entities Tuesday and also promised to ban luxury goods exports to Russia.

Article Topic Follows: AP National Business

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