The European Union bans imports of Russian gold and freezes Sberbank’s assets.

The European Union has already agreed to ban imports gold from Russia, including jewellery, and freeze the assets of Sberbank, Russia’s largest bank. The 27 member states achieved a unanimous agreement in the afternoon of 20th July Wednesday, five days after the European Commission proposed the measures. It comes as Western allies continue to try and inflict economic pain on the Kremlin and limit the funds it has for the Ukraine invasion. EU officials have not described the new penalties as the seventh round of sanctions but rather a “maintenance and alignment” package that offers clarity and guidance on the measures already imposed against Russia.