European Union approves third Russian sanction package and assistance to Ukraine

The EU Ministers of Foreign Affairs approved a new "powerful third package of sanctions targeting the Russian Federation", during an informal video conference, said Portuguese Minister of State and Foreign Affairs in a statement to Lusa press agency.

In the economic field, the sanctions envisage "denying any financial transaction from the European Union with the Russian Central Bank" and banning the use of the Swift system in important Russian sectors". The Swift is a financial messaging system that connects around 11 thousand banks and financial institutions for transactions. It is the core of the global financial system.

In the field of isolating Russia internationally, the ministers decided on "a coordinated action by all Member States to close EU airspace to Russian aircraft", he said. Portugal has already informed the Russian airline that its airspace is closed to them.

"The measures on eliminating transactions with the Russian Central Bank, keeping Russia off the Swift system and closing EU airspace to Russian aircraft are measures effective immediately, to be implemented in the coming hours or days", he added.

Unprecedented decisions

The Minister noted the "political decision" of authorizing, for the first time, the European Peace Facility to finance the purchase of lethal equipment to the sum of 450 million euros and non-lethal equipment to the sum of 50 million euros as "very important". It is the first time this has happened.

Another unprecedented measure has been to stop media outlets from broadcasting that "are part of the Russian propaganda and disinformation apparatus", he noted.

"All of these situations are in reaction to Russia’s attack o Ukraine and therefore we hope that the situation on the ground progresses in a positive manner. That is, for Russia to understand that it cannot keep invading Ukrainian territory and engaging in war with Ukraine because the price it pays for it is too high", he added.

The second package of sanctions on Russia was approved on 25 February and the first sanction package on 21 February.