EU Leaders Unanimously Approve Additional Sanctions on Russia
European Union countries have agreed on a 12th package of sanctions against Russia, which will include a phased ban on Russian diamond imports starting from January 1st. The EU has been implementing sectoral and individual sanctions since Russia's invasion of Ukraine in 2022, aiming to cut off revenues and military equipment supporting Moscow's war efforts. The new sanctions package also includes measures to tighten proof requirements for companies adhering to the G7 Russian oil price cap and prevent Russia from obtaining dual-use goods. Austria initially held back on giving its final approval, reportedly seeking the removal of Raiffeisen Bank International from Ukraine's blacklist in return for supporting the sanctions.