New European Union sanctions against Russia on Tuesday sought to deny oligarchs their love of luxury and block Russia from cashing in on its lucrative steel exports. The United Kingdom also joined in the targeting.
Furthermore, Britain will impose additional import tariffs of 35% on Russian and Belarusian products ranging from vodka and white fish to iron, oil seeds and grain.
"None of us are planning tourist trips to Russia and none of us have bank accounts that we won’t be able to access. So we will forge ahead,” said White House press secretary Jen Psaki. Tuesday's list of 15 individuals sanctioned by the EU also included Konstantin Lvovich Ernst, the chief executive of Russia's state-run Channel One, which the EU says is used by Russian President Vladimir Putin for propaganda purposes.
The import ban on steel products amounts to some 3.3 billion euros in lost exports for Russia, as the EU was its No. 1 market.
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