EU prepares fourth package of sanctions against Russia

The European Union is developing a fourth package of sanctions against Russia due to its military operation in Ukraine, Austrian Foreign Minister Alexander Schallenberg announced on Wednesday.

"We have already imposed strong sanctions. We are working on the fourth package. On Friday a special meeting of [EU] foreign ministers with US Secretary of State [Antony] Blinken will be held," he said.

Schallenberg believes that restrictive measures against the Russian Federation have already had an effect. "Exchanges are closed. The ruble is falling significantly. The European Union has shown its muscles for the first time," he added.