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The European Union is set to propose sanctions on Russia’s mining industry in response to the country’s continued aggression in Ukraine. The sanctions would target Russian state-owned companies that are involved in the mining sector, and would aim to restrict their access to international financing. This would be the first time that the EU has targeted Russia’s mining industry with sanctions, and it is seen as a significant step in escalating the economic pressure on the country.
The proposed sanctions come as tensions between Russia and Ukraine continue to simmer, with no end in sight to the conflict. Russia has been accused of supplying arms and military support to separatist rebels in Ukraine, and the EU has already imposed a number of sanctions on the country in response. However, Russia has so far shown no signs of backing down, and the conflict continues to claim lives on both sides.
The proposed sanctions against Russia’s mining industry are likely to have a significant impact on the country’s economy. Russia is a major producer of minerals and metals, and the mining sector accounts for around 8% of its GDP. The sector is also a major employer, with around 1.5 million people employed in the industry.
The EU is hoping that by targeting Russia’s mining sector.
Group Media Publication
Construction, Infrastructure and Mining
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