The European Council has announced the renewal of restrictive measures against the Russian Federation for an additional six months, extending until July 31, 2024. These sanctions, initially imposed in 2014 as a response to Russia’s actions destabilizing the situation in Ukraine, have been significantly expanded since February 2022 due to Russia’s unprovoked, unjustified, and illegal military aggression against Ukraine.
The current sanctions encompass a wide range of sectoral measures, including restrictions on trade, finance, technology, dual-use goods, industry, transport, and luxury goods. Notably, the measures include a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU, de-SWIFTing of several Russian banks, and the suspension of broadcasting activities and licenses of Kremlin-backed disinformation outlets. Specific measures have also been implemented to enhance the EU’s ability to counter sanctions circumvention.
These sanctions remain in place as long as the Russian Federation’s illegal actions persist, constituting a serious breach of international law. The EU affirms its commitment to maintaining and potentially enhancing these measures to address the ongoing violation of the prohibition on the use of force.
Background:
Origins of Sanctions (2014): The Council initially adopted restrictive measures in response to Russia’s actions destabilizing the situation in Ukraine on July 31, 2014.
Economic Sanctions: In addition to economic sanctions, the EU has implemented measures against Crimea, Sevastopol, and non-government-controlled areas in various Ukrainian oblasts. Individual restrictive measures, such as asset freezes and travel restrictions, have been imposed on a broad range of individuals and entities. Diplomatic measures are also in place.
Unprecedented Packages (Since February 2022): In response to Russia’s full-scale invasion of Ukraine on February 24, 2022, the EU has adopted 12 unprecedented and robust packages of sanctions.
European Council’s Condemnation (December 2023): In its conclusions on December 14-15, 2023, the European Council reiterated its condemnation of Russia’s war of aggression against Ukraine, emphasizing the violation of the UN Charter. The Council reaffirmed the EU’s steadfast support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognized borders, along with its inherent right to self-defense against Russian aggression.
