EU prolongs economic sanctions against Russia by 6 months

The European Council made a decision to prolong economic sanctions against Russia by six months, the Council's press service reported on Jan. 27.

The restrictive measures targeting specific sectors of Russia’s economy, including restrictions of trade, finance, technology, and dual-use goods, industry transport and luxury goods, will remain in force until July 31.

"In the face of Russia's war of aggression, the EU stands resolutely with Ukraine and its people, and is unwavering in its support of Ukraine's independence, sovereignty and territorial integrity within its internationally recognised borders," the statement reads.

According to the press service, in response to Russia’s full-scale military invasion of Ukraine, the EU has adopted a number of “unprecedented and hard-hitting packages of sanctions.” This includes a “ban of the import or transfer of seaborne crude oil, de-SWIFTment of several Russian banks, and suspension of broadcasting activities of several Kremlin-based disinformation outlets.”

The European Council also noted that the some sanctions were initially introduced in 2014, when Russia first invaded Ukraine, and the list has expanded significantly in 2022 in light of Russia’s further invasion.

Earlier on Jan. 21, Reuters reported that there was incoming information from diplomatic sources that the European Union was preparing the 10th package of sanctions against Russia.

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