On Thursday, 7th April 2022, the European Union said that, it has now approved an embargo on the coal of Russia and the closing of the ports of European bloc to the vessels of Russia over the war of Russia with Ukraine.
An official of the French presidency of the European Council said that, this move spearhead a very substantial fifth round of the sanctions against Russia, and this package is also including a ban of 10 million euros on the exports to Russia, which is also including the high technology good and also freezing some of the assets of the Russian Banks.
Additionally, the European Union has also backed a proposal for the purpose of boosting the funding of the arms supplies to Ukraine by 500 million euros, which will be taking it to a total of 1.5 billion euros.
Charles Michel, president of the European Council said that, the package is swiftly going to be approved, and the new financial measures had been proposed by the European Commission after the death bodies of the dozens of the common people had been found in the region of Bucha near Kyiv.
It has been the first time, the member nations of the European Union have targeted the energy sector of Russia, on which they have been heavily dependent. The nations of the European Union imports 45 percent of the coal from Russia, which is worth around 4 billion euros a year.
