The European Union approved on March 14 a ban on exports to Russia as part of its fourth round of sanctions in response to Russia’s invasion of Ukraine.
The new sanctions come as the United States and the other industrial nations comprising the Group of Seven—Canada, France, Germany, Italy, Japan, and the United Kingdom—along with the European Union, have said they intend to strip Russia of its “most favored nation” status and will work to deny the country the benefits of international trade.
