The EU has made a "historic decision" regarding Russia

The EU has made a "historic decision" regarding Russia

European finance ministers have officially approved a fourth package of sanctions against more than 600 Russian citizens.

French Finance Minister Bruno Le Maire called the new EU sanctions against Russia a "historic decision".

It is "the fastest, strongest package of sanctions the European Union has ever adopted in its history," the ministers said.

The names of Russian individuals and entities involved in the new round of sanctions have not been announced. "You will have a new ban on some exports, such as luxury goods, and we will withdraw to the Russian state, a clause on the most privileged nations within the World Trade Organization, which will allow us - all 27 member states - to increase trade and customs duties on all Russian goods", Le Maire said.

The sanctions have been extended to "key oligarchs, lobbyists and propagandists pushing Kremlin propaganda about the situation in Ukraine, as well as key companies in the aviation, military and dual-use sectors, shipbuilding and mechanical engineering," the European Council said in a statement.

Asked whether there will be additional sanctions, Le Maire said: "I can confirm to you what Emmanuel Macron said last week, all options remain on the table.