EU extends economic sanctions against Russia for another six months
The Council of the European Union has decided to extend economic sanctions against Russia for another six months. The restrictive measures will remain in place until at least 31 July 2026 and remain a response to Moscow's actions that destabilise the situation in Ukraine. This was reported by The Public with reference to the website Council of the European Union and the European Council.
This is a broad package of sectoral sanctions introduced in 2014 and significantly strengthened after the full-scale invasion in February 2022. They currently cover trade, finance, energy, technology, dual-use goods, industry, transport and the luxury goods segment. Separately, there is a ban on imports of Russian marine oil and a number of oil products to the EU, disconnection of some Russian banks from the SWIFT system and suspension of broadcasting of Kremlin propaganda media in the European Union.
The mechanisms to counteract the circumvention of sanctions and restrict economic ties with the temporarily occupied Crimea, Sevastopol and non-government controlled areas of Donetsk, Luhansk, Kherson and Zaporizhzhia regions are also in place. In total, since 24 February 2022, the EU has already adopted 17 sanctions packages, which Brussels calls unprecedented in scale and severity.
The EU stresses that sanctions will remain in place as long as Russia violates international law and the UN Charter. If necessary, the pressure can be increased. The European Council also reaffirmed its continued support for the independence and territorial integrity of Ukraine and its readiness to provide political, financial, humanitarian and military assistance as long as necessary.
