The French Government has revealed fresh sanctions on Russia, targeting its steel products, investments in its oil sector as well as exports of luxury goods to Russia.
French Foreign Minister Jean-Yves Le Drian announced the new package of measures which are expected to come into effect on Sunday, 13th March 2022. The sanctions follow a wide range of other sanctions already imposed by the EU.
The new penalties as listed by the foreign minister in an interview aired on France Inter includes;
- Ban imports of steel products from Russia
- Ban export of luxury goods to Russia
- Prohibit any investment in oil production and refineries in Russia
- Expanded list of sanctioned high-profile individuals
There has been multiple sanctions on the Russian State, Putin and Russian Oligarchs since the commencement of what President Putin calls “Special Military Operation” in Ukraine 18 days ago.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur