The Council of the EU extended the restrictive measures of the EU in connection with the war of the Russian Federation against Ukraine for another 6 months, until January 31, 2025.
Points of attention
- Sanctions introduced by the EU in 2014 have been significantly expanded from February 2022 and include restrictions on trade, finance, technology and other sectors.
- European measures also include a ban on oil imports from Russia, disconnection of Russian banks from SWIFT and other restrictions aimed at weakening the economic base of the Russian Federation.
- The EC continues to take additional measures when necessary, in particular, to counter the circumvention of sanctions and to respond to Russia's actions that violate international law.
The EU has extended sanctions against the Russian Federation for half a year
These sanctions, first introduced in 2014, have been significantly expanded since February 2022 in response to Russia's unprovoked, unjustified and illegal military aggression against Ukraine, the report said.
They now consist of a wide range of sectoral measures, including restrictions on trade, finance, technology and dual-use goods, industry, transport and luxury goods.
They also include: a ban on the import or transfer of marine crude oil and certain petroleum products from Russia to the EU, the disconnection of several Russian banks from SWIFT, and the suspension of the language activities and licenses in the European Union of several Kremlin-backed disinformation agencies. In addition, specific measures allow the EU to counter the circumvention of sanctions.
As long as the illegal actions of the Russian Federation continue to violate the ban on the use of force, which is a serious violation of obligations under international law, it is advisable to keep in force all the measures introduced by the EU and take additional measures if necessary, the EU Council noted.
What is known about EU sanctions
Since March 2014, the EU has been gradually introducing restrictive measures (sanctions) against Russia, initially in response to the illegal annexation of Crimea and Sevastopol and the deliberate destabilization of Ukraine.
In addition, on February 23, 2022, the EU expanded sanctions in response to the recognition of non-government-controlled territories of the Donetsk and Luhansk "regions" of Ukraine and the deployment of Russian armed forces in these areas.
After February 24, 2022, in response to Russia's military aggression against Ukraine, the EU significantly expanded sanctions. He added a significant number of individuals and entities to the sanctions list and took unprecedented steps to weaken Russia's economic base, deprive it of critical technologies and markets, and severely limit its ability to wage war.
