The sanctions are aimed at Russian individuals and legal entities involved in the aggression against Ukraine, as well as several sectors of the Russian economy, the EU Council said.

Read more: Lublin Triangle: joint statement

The punitive measures will enter into force as soon as they are published in the Official Journal of the EU.

The EU has also asked the World Trade Organization to suspend the Most Favored Nation (MFN) clause for Russia. It is also asking the WTO to suspend consideration of Belarus' application.