Brussels (Brussels Morning Newspaper) – European Union foreign ministers agreed on January 27, 2025, to extend sanctions on Russia over its war against Ukraine after Hungary abandoned its resistance to the move.
According to the statement,
“The Council today renewed the EU restrictive measures in view of the Russian Federation’s continuing actions destabilising the situation in Ukraine for a further 6 months, until 31 July 2025.”
“Europe delivers: EU Foreign Ministers just agreed to extend again the sanctions on Russia,”
Kaja Kallas stated.
“This will continue to deprive Moscow of revenues to finance its war,”
She also said.
“Russia needs to pay for the damage they are causing.”
Earlier, Officials from other EU nations had cautioned that a refusal to renew the sanctions before a Jan. 31 deadline would have significant consequences, such as the unfreezing of Russian assets in Europe utilised to help Ukraine. The restrictive measures up for renewal include all sector-based prohibitions on trade as well as the actions that immobilised Russia’s central bank acquisitions. Legally, EU nations must unanimously vote to resurrect these restrictions every six months.
Why did Hungary change its stance on Russian sanctions?
Hungary, which had been stopping the extension of the sanctions that were to be in force only until January 31, decided to lift its opposition after acquiring assurances that the European Commission would resume negotiating with Ukraine on the resumption of gas transit through Ukraine. Hungary, as well as Slovakia, will be incorporated in these talks, Kaja Kallas, the EU’s foreign policy chief, has affirmed.
How have the sanctions evolved since Russia’s 2022 invasion?
These economic sanctions or restrictive measures, first launched in 2014, have been extremely grown since February 2022 in reaction to Russia’s unprovoked, unlawful, and illegal military aggression against Ukraine.
Currently, they include a wide range of sectoral standards, including limitations on trade, finance, power, technology and dual-use contents, industry, transport and luxury interests. They also cover a prohibition on the import or export of seaborne crude oil and specific petroleum outcomes from Russia to the European Union, a de-SWIFTing of many Russian banks and the halt of the broadcasting moves and licenses in the European Union of many Kremlin-supported disinformation forums.
