WORLD HISTORY

Detailed explanation-1: -The EU has imposed several rounds of sanctions-or restrictive measures-intended to cripple Russia’s ability to finance the war against Ukraine, enact costs on Russia’s elites, and diminish Russia’s economic base. Imposing sanctions requires unanimity among EU members.

Detailed explanation-2: -International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014.

Detailed explanation-3: -Sanctioned Russian oligarchs and financial institutions have been forced to divest from long-held assets outside Russia. Moreover, sanctions have prompted banks in several countries to curtail ties with the Russian financial sector.

Detailed explanation-4: -The EU applies ad-valorem tariff rates of 0% to 5% to imports of crude oil and oil products.