The European Union announced late Monday that the 27-nation bloc has approved a new set of sanctions to punish Moscow for its invasion of Ukraine, writes ABC NEWS.

France, which holds the EU presidency, said the bloc “in consultation with our international partners, has approved a fourth package of sanctions targeting individuals and entities involved in the aggression against Ukraine, as well as several sectors of the Russian economy”.

These measures They will be adopted by written procedure, which should end on Tuesday morning.

The French presidency said in a statement that the bloc also approved a declaration to the World Trade Organization “on suspending the application of the most-favored-nation clause for Russia and suspending the examination of Belarus’ application for accession to the WTO”. If Russia is suspended, its companies would no longer receive special treatment throughout the bloc.