The member states of the European Union has now agreed on a fourth set of the sanctions against Russia followed by the invasion of Russia of Ukraine as announced by the office of the French European Union Presidency.
The French presidency of the European Union said that, by revoking the most favoured country of Russia trade status is going to be a part of the set, which has been a move that can possibly open the door for the European bloc that has been banning or imposing the punitive tariffs on the goods of Russia along with putting Russia on the same level with Iran or North Korea.
The European diplomats said that, the sanctions had been set for including an import ban on the steel and iron produced in Russia, and an export ban in the luxurious goods including the car that are worth over 55,000 dollars and also a ban in the investments in the energy and oil industries.
Roman Abramovich, owner of Chelsea soccer club along with 14 other individuals are also going to be added to the list of the sanctioned Russian billionaires of the European Union, and United Kingdom has already placed the sanctions on the owner of Chelsea along with an asset freeze and travel ban.
Ursula von der Leyen, president of the European Commission has also said that, the fourth package has agreed upon by the leaders of the European Union and also blocking the access of Russia for funding from the IMF (International Monetary Fund) and World Bank.
