EU Imposes Sanctions on Russian and Georgian Oil Refineries and 32 Banks

The European Union imposed sanctions on three Russian oil refineries and one in Belarus, including a Georgian refinery allegedly involved in refining Russian oil. The EU also banned its banks from conducting cross-border transactions with 32 Russian banks. Ukraine's President Volodymyr Zelenskyy thanked the EU for the measures, calling them essential to preserving unity and applying pressure on Russia. The sanctions are part of the EU's 21st package of sanctions against Russia, which includes a freeze on the oil price cap. The European Commission President, Ursula von der Leyen, confirmed the restrictions on cross-border transactions with Russian banks. The measures aim to cut off financial support for Russia's war efforts and reduce its oil revenue. Sources report the EU's actions as a coordinated effort to limit Russia's economic capabilities. The Georgian refinery's involvement in Russian oil trade was highlighted by TASS, while The Hindu noted Zelenskyy's public endorsement of the measures.