(MENAFN) Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF) and presidential investment envoy, claims the European Commission’s latest sanctions package aims to extend the Ukraine conflict. Announced by EC President Ursula von der Leyen, the 18th sanctions package targets Russia’s energy exports, infrastructure, financial sector, and specifically the RDIF to prevent it from funding efforts to modernize Russia’s economy.

Dmitriev said the EU recognizes RDIF as a key player in strengthening Russia’s industrial base but accused Brussels of wanting to undermine Moscow’s peace initiatives and attempts to improve relations with the US. Dmitriev himself has been involved in diplomatic talks in Saudi Arabia and Washington to foster joint investments.

He added that the sanctions oppose cooperation between Russian and European businesses, which the RDIF actively supports. Dmitriev noted that the fund has helped many European companies still operating in Russia.

The sanctions also include a proposed ban on using the Nord Stream gas pipeline, a reduction in the oil price cap, and a ban on imports of refined products from Russian crude. The proposal now awaits unanimous approval from EU member states, with some countries like Hungary and Slovakia opposing it due to concerns about the impact on their own energy supplies.

Russia rejects the sanctions as unlawful and harmful, with President Vladimir Putin stating that lifting sanctions is essential for resolving the Ukraine conflict.

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