FT: New EU sanctions package against Russia could hit mining industry

Sofiia Telishevska

The Financial Times, citing sources, writes that the European Commission is considering a ban on new investments in Russiaʼs mining sector as part of a new sanctions package.

The ban will be part of the ninth package of restrictions of the European Union, which the member states plan to discuss in the coming days.

Officials hope to agree on sanctions by the end of next week.

The new package of restrictions could also include export controls on civilian technology that Brussels believes Russia is using to support its weapons factories; a ban on operations with three Russian banks and targeted sanctions against 180 people.

The sanctions are likely to affect four Russian channels that the EU believes are used by Moscow for propaganda. In addition, a ban on agreements with Russian marketing and research companies will be introduced.