EU to step up financial support for Ukraine, expand sanctions on Russia

ISTANBUL

The EU will send around €4.5 billion ($4.9 billion) in financial aid to Ukraine by March to bolster the country’s ongoing defense efforts, French Foreign Minister Jean-Noel Barrot said Monday.

"We are firm in our support for Ukraine, not only providing critical resources but also ensuring that Russia faces escalating consequences for its illegal war," Barrot said ahead of the EU Foreign Affairs Council in Brussels.

The EU will also impose additional sanctions on Russia, targeting 2,400 individuals involved in the conflict, he added.

These sanctions include asset freezes and travel bans, designed to increase the economic and political costs for Russian officials and entities connected to the war, he said.

In late February, the EU said the bloc and its member states had provided nearly $145 billion in financial, military, humanitarian and refugee assistance to Ukraine since the war began. Of that amount, 65% was given as grants or in-kind support, while 35% came in the form of "highly concessional" loans.

Sanctions on 9 individuals over violence in Congo

The French foreign minister also addressed the deteriorating security situation in the Democratic Republic of Congo, which continues to face violent unrest, particularly in its eastern provinces.

"We will impose sanctions on nine individuals and one entity responsible for violations of international and humanitarian law, contributing to the escalation threatening the Great Lakes region in Africa," he said, describing the situation in Congo as “one of the most serious crises in the world today.”

He stressed the need for urgent international intervention, calling on the African Union, the Congolese government, rebel groups and Rwanda to engage in negotiations for a just and lasting peace.

"These are the most important decisions that will be made today, demonstrating the European Union's strong will to make its voice heard and to influence not only in the context of Russia's war of aggression in Ukraine but also in other significant security issues," he said.