A hit to the Russian economy: the EU has banned new investments in the mining sector of the Russian Federation

The exception is mining and quarries related to certain critical raw materials.

On Friday, December 16, the Council of the EU banned new investments in Russia’s mining sector as part of the adopted ninth package of sanctions. This is stated on the website of the European Council.

The EU will expand the prohibition targeting new investments in the Russian energy sector by additionally prohibiting new investments in the Russian mining sector, with the exception of mining and quarrying activities involving certain critical raw materials.

In addition to economic sanctions, the Council decided to adopt a comprehensive package of individual measures both in number and content with list a very significant number of additional individuals and entities.

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