Written by 6:58 am EU Investment

EU approves new package of sanctions on Russia

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With Russia’s invasion in its 10th month, European Union leaders agreed late Thursday to provide €18 billion in financing to Ukraine next year and hit Moscow with a ninth package of sanctions. The measures concern nearly 200 more individuals and bar investment in Russia’s mining industry, among other steps. Follow our live blog all for the latest developments. All times are Paris time (GMT+1). 

7:44am: Air raid sirens sound across Ukraine and in capital Kyiv

Air raid sirens wailed across Ukraine, including in the capital Kyiv on Friday, signalling another Russian missile attack, the country’s officials said.

“Do not ignore air raid alerts, remain in shelters,” Kyrylo Tymoshenko, deputy head of the president’s office said on the Telegram messaging app.

As many as 60 Russian missiles have been spotted heading to Ukrainian air space, said Vitaly Kim, who is the governor of the Mykolaiv region in southern Ukraine.

“A part of them is already over northern Ukraine,” he wrote on Telegram.

7:32am: EU to confirm new sanctions on Russia

European Union leaders wrapped up their last summit of 2022 with an agreement to provide €18 billion in new financing to Ukraine next year and to slap more sanctions on Russia, including blacklisting nearly 200 people and barring investment in Russia’s mining industry. Few details of the deal, which requires unanimity across the bloc, were immediately available. 

The European Commission, the EU’s executive branch, last week proposed travel bans and asset freezes on almost 200 more Russian officials and military officers as part of the new round of measures. The targets of the latest recommended sanctions included government ministers, lawmakers, regional governors and political parties. The Commission also wanted to hit the Russian defense industry and more Russian banks, and to impose export controls and restrictions on products like chemicals, nerve agents, electronics and IT components that could be used by the armed forces.

It was unclear whether the proposals had significantly changed during final negotiations among member countries.

EU leaders will formally confirm the new round on sanctions on Friday.

12:14am: World Bank launches 2 billion package to support Ukraine’s private sector

The World Bank on Thursday announced a $2 billion package to support Ukraine’s private sector, in a bid to help pave the way for reconstruction amid the devastation resulting from Russia’s invasion.

The latest package by the International Finance Corporation (IFC), the bank’s development arm focused on private-sector development in emerging markets, adds to its ongoing support of Ukraine.

(FRANCE 24 with AFP, AP and Reuters)

© France Médias Monde graphic studio

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