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EU renews economic sanctions against Russia for 6 more months

29 January 2024, 23:02 CET
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EU renews economic sanctions against Russia for 6 more months

Russia EU

(BRUSSELS) - The EU Council renewed its restrictive measures against Russia for a further 6 months Monday, until 31 July 2024, in view of the country's continuing actions destabilising the situation in Ukraine.

The sanctions, first introduced in 2014 in response to Russia's actions to destabilise Ukraine, were significantly expanded after February 2022 in response to Russia's unprovoked, unjustified and illegal military aggression against Ukraine.

The measures currently consist of a broad spectrum of sectoral measures, including restrictions on trade, finance, technology and dual-use goods, industry, transport and luxury goods.

They also cover a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU, a de-SWIFTing of several Russian banks and the suspension of the broadcasting activities and licenses of several Kremlin-backed disinformation outlets. Specific measures were also introduced to strengthen the ability of the EU to counter sanctions circumvention.

The Council says that so long as the illegal actions by the Russian Federation continue to violate the prohibition on the use of force, which is a serious breach of obligations under international law, it is appropriate that the EU maintain in force all the measures imposed by the EU and to take additional measures if necessary.

Russia's war of aggression against Ukraine: EU adopts 12th package of economic and individual sanctions (press release, 18 December 2023)

EU sanctions against Russia explained (background)

Timeline - EU restrictive measures against Russia over Ukraine

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