These economic measures, which were first introduced in 2014, have been significantly expanded since February 2022 in response to Russia’s “unprovoked, unjustified, and illegal” military aggression against Ukraine. “As long as the illegal actions of the Russian Federation continue to violate fundamental principles of international law, it is appropriate to keep all EU-imposed measures in force and adopt additional ones if necessary,” the EU Council emphasized.

Currently, the economic sanctions against Russia include a broad range of sectoral measures, such as restrictions on trade, finance, energy, technology and dual-use goods, industry, transport, and luxury items. They also cover:

• a ban on the import or transfer of crude oil and certain petroleum products from Russia to the EU,
• the removal of several Russian banks from the SWIFT system,
• and the suspension of broadcasting operations and licenses within the EU for various Kremlin-backed disinformation outlets.

Additionally, specific measures have been implemented to prevent the circumvention of sanctions.

The EU remains prepared to increase pressure on Russia, including through the adoption of further sanctions.