Undermining the economy: the EU targets the mining industry in Russia

The European Union is going to include in the ninth package of sanctions a ban on investment in the mining industry of the Russian Federation. This is reported by the international newspaper Financial Times.

The source says that the mining industry is the most important part of the Russian industry. A quarter of foreign investment in the Russian Federation falls on the extraction of gold, iron ore, uranium and phosphates.

The countries of the European Union intend to limit funding for this sector in Russia in order to further weaken the Russian economy. Thus, the EU expects to reduce the ability of the Russian Federation to wage war in Ukraine.

The authors of the publication stressed that the new restrictions will not apply to some products. The publication reports that the ninth package of sanctions can be agreed upon by the EU countries by the end of next week.

The new restrictions will also be placed on civilian technology that Russia is allegedly using to support the operation of its military industry. In addition, the ninth package of sanctions will include a ban on working with three more Russian banks, as well as personal sanctions against 180 people.

The Financial Times noted that representatives of the European Commission refused to comment on the content of the ninth package of sanctions against Russia.


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