Both US and the EU are tightening its grip on Russia by imposing further sanctions against the country. At a summit of EU Heads of State and Government on Wednesday evening in Brussels, a decision was reached to ask European Investment Bank and European Bank for Reconstruction and Development (EBRD) to halt further investments and financing of new projects in Russia.
The tightened sanctions come in response to Russia’s continued role in the conflict in the Ukraine and because Russia has failed to live up to the demands posed by EU leaders at their previous summit almost three weeks ago.
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