The EU has officially approved the tenth package of sanctions.

More than 120 legal entities and individuals have been sanctioned, including 96 companies that supply dual-purpose materials and equipment to the Russian military-industrial complex. Three more banks were added to the sanction list: Alfa Bank, Tinkoff Bank, and Rosbank. Restrictions include disconnection from the international SWIFT system, freezing of assets in EU countries, and a transaction ban. This decision is explained by the fact that these banks are systemically significant and participate in sectors of the economy that provide “substantial income” for Russia. The National Welfare Fund was also sanctioned as Russian authorities are planning to use the Fund’s resources to cover the state’s budget deficit in the coming years. The tenth package also prohibits the export to Russia of electronics, specialized cars, machine parts, spare parts for trucks and jet engines, etc.