“The new package of sanctions will be approved this morning. Such a strong package of sanctions has never been adopted in the history of the European Union. This is a historic decision. More than 600 Russian individuals who will be affected by sanctions”, - said Le Maire (quoted by RIA Novosti).
He made this statement ahead of the EU finance ministers' summit in Brussels. The French politician noted that the sanctions would affect most of the Russian financial system. One of the points of the new package will be a ban on the export of luxury goods from Russia.
On February 21, Russian President Vladimir Putin announced the recognition of the DPR and LPR, and on February 24, a military special operation of the Russian Federation in Ukraine began. Against the backdrop of these events, Western countries and their partners have introduced and continue to impose new sanctions against Russia. The restrictions affect key sectors of the economy, including the banking system. So on February 28, the European Union froze the assets of the Central Bank of the Russian Federation. Russian Finance Minister Anton Siluanov said that Western countries have frozen about half of Russia's gold and foreign exchange reserves. We are talking about 300 billion dollars. French Foreign Minister Jean-Yves Le Drian promised another package of sanctions on March 13, but the EU took time to agree.