EU extends economic sanctions against Russia for 6 more months

The Council of the European Union 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 January 2025, reported from the council.

These sanctions, first introduced in 2014, were significantly expanded since February 2022 "in response to Russia’s unprovoked, unjustified and illegal military aggression against Ukraine."

They 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 in the European Union of several Kremlin-backed disinformation outlets. Additionally, specific measures enable the EU to counter sanctions circumvention.

"As 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 to maintain in force all the measures imposed by the EU and to take additional measures, if necessary," the council said in a statement.

Since February 24, 2022, the EU has adopted 14 unprecedented and hard-hitting packages of sanctions in response to Russia’s full-scale invasion of Ukraine.

In its conclusions dated June 27, 2024, the European Council reiterated its continued support for Ukraine’s independence, sovereignty and territorial integrity within its internationally recognised borders and reconfirmed the EU’s unwavering commitment to providing continued political, financial, economic, humanitarian, military and diplomatic support to Ukraine. The European Council also strongly condemned the recent escalation of hostilities by Russia, in particular the further intensified attacks against civilians and civilian and critical infrastructure, especially in the energy sector

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