EU to soften sanctions against Russian banks

EU to soften sanctions against Russian banks

The European Union will lift its sanctions against Moscow on Wednesday, allowing the unfreezing of some funds from leading Russian banks that may be needed to remove bottlenecks in global trade in food and fertilizers, a draft document shows.

 

The move comes amid criticism from African leaders about the negative impact of sanctions on trade, which may have exacerbated shortages mainly caused by Russia's invasion of Ukraine and its blockade of ports in the Black Sea, REUTERS reported.





The European Union will lift its sanctions against Moscow on Wednesday, allowing the unfreezing of some funds from leading Russian banks that may be needed to remove bottlenecks in global trade in food and fertilizers, a draft document shows.

 

The move comes amid criticism from African leaders about the negative impact of sanctions on trade, which may have exacerbated shortages mainly caused by Russia's invasion of Ukraine and its blockade of ports in the Black Sea, REUTERS reported.