EU leaders Thursday agreed to impose a 12th round of sanctions on Russia over the war on Ukraine, targeting diamond exports and better enforcing an oil price cap.

The 27 leaders said in a statement issued during their summit in Brussels that they "welcomed" the approval of the fresh sanctions on Moscow.

The European Union has imposed an unprecedented battery of sanctions against Russia since President Vladimir Putin launched an all-out invasion of Ukraine in February 2022.

The latest sanctions -- which still have to be formally published -- are set to ban Russia's lucrative diamond exports.

They also include measures aimed at tightening enforcement of an oil price cap aimed at curbing the amount of revenue the Kremlin rakes in from crude sales to non-EU countries.

European diplomats warn the EU is running out of further sectors it can agree on targeting.

Russia's economy has so far weathered the West's punishment and Putin boasted on Thursday that the country could "move forward".

Source: Barron’s 

BDST: 1204 HRS, DEC 15, 2023
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