EU extends sanctions against Russia by another six months for invasion of Ukraine
EU extends sanctions against Russia by another six months for invasion of Ukraine (Photo: ЕС flick com libereurope)
The European Union has extended economic sanctions against Russia, which were imposed in response to the aggression in Ukraine. The decision to prolong the sanctions was made by the European Council on July 20. These sanctions will remain in effect for at least six more months, until January 31, 2024.
The European sanctions targeting Russia cover various areas, including trade, finance, technology, dual-use goods, industry, transportation, and luxury items. They also encompass a ban on the import and transportation of seaborne crude oil and certain petroleum products from Russia to the EU. Additionally, several Russian banks will be disconnected from the SWIFT network, and pro-Kremlin media outlets' operations in the EU will be halted.
First sanctions against Russia
The initial EU sanctions against Russia were first introduced in 2014 in response to the destabilization of the situation in Ukraine. From February 24, 2022, the sanctions were significantly expanded. To date, the EU has already adopted 11 packages of restrictions in response to Russia's armed aggression against Ukraine.
It is important to note that these sanctions are targeted at both specific individuals and state and private companies in Russia.
Today, the United Kingdom also imposed sanctions against Russians associated with the Wagner Group.
