Brussels (The Brussels Morning Newspaper) – The EU Council has renewed economic sanctions against Russia for six months due to ongoing destabilizing actions in Ukraine. These measures, in place since 2014, include restrictions on trade, finance, and technology.
The EU Council revived the EU restrictive standards given the Russian Federation’s persisting actions destabilising the circumstances in Ukraine for a further 6 months, until 31 January 2025.
What sectors are affected by the renewed sanctions?
These sanctions, first raised in 2014, were significantly extended since February 2022 in reaction to Russia’s unprovoked, unjustified and unlawful military aggression against Ukraine.
They presently consist of a broad spectrum of sectoral actions, including restrictions on trade, finance, technology and dual-use interests, industry, transport and luxury goods.
They also cover a prohibition on the import or transfer of seaborne crude oil and specific petroleum derivatives from Russia to the EU, a de-SWIFTing of several Russian banks and the recess of the broadcasting actions and licenses in the European Union of several Kremlin-backed disinformation platforms. Additionally, specific actions enable the EU to oppose sanctions circumvention.
EU Council states that as long as the criminal actions by the Russian Federation continue to disregard the prohibition on the use of force, which is a grave breach of obligations under international law, it is appropriate to keep in force all the measures assessed by the EU and to take additional measures, if necessary.
How has Russia’s aggression influenced EU policy?
In expansion to the economic sanctions on the Russian Federation, the EU has positioned different types of measures in reaction to Russia’s destabilising activities against Ukraine. These include restrictions on economic connections with the illegally annexed Crimea and the city of Sevastopol as well as the non-government managed areas of Ukraine in the oblasts of Donetsk, Kherson, Luhansk, and Zaporizhzhia; individual restrictive standards (asset freezes and travel restrictions) on a broad spectrum of individuals and entities, and diplomatic efforts. Since 24 February 2022, the EU has assumed 14 unprecedented and hard-hitting schemes of sanctions in reaction to Russia’s full-scale invasion of Ukraine.
What is the EU’s stance on Ukraine’s territorial integrity?
European Council restated its continued support for Ukraine’s independence, independence and territorial integrity within its internationally acknowledged borders and reconfirmed the EU’s unwavering dedication to providing continued political, financial, economic, humanitarian, military and diplomatic backing to Ukraine. The European Council also strongly criticised the recent escalation of execrations by Russia, in particular the further amplified attacks against civilians and civilian and necessary infrastructure, especially in the energy sector.
