EU sanctions against Russia extended for another six months, until early 2025

Brussels – Onwards for another six months, at least until January 31, 2025. The Council of the European Union gave the green light today (July 22) to extend EU sanctions against Russia “given the continuing actions destabilizing the situation in Ukraine.” Sanctions were first introduced in 2014 but “significantly” expanded since February 2022 “in response to unprovoked, unjustified, and illegal military aggression” with 14 packages of restrictive measures.

The decision of the 27 EU foreign ministers ties in with the European Council conclusions of June 27, when the “continued support for Ukraine’s independence, sovereignty, and territorial integrity within its internationally recognized borders” was reiterated with yet another reconfirmation of the Union’s unwavering commitment to provide Kyiv with “continued political, financial, economic, humanitarian, military, and diplomatic support.” 

In this context, the Twenty-Seven “strongly” condemned the Kremlin’s escalation of hostilities, “particularly the further intensification of attacks against civilians and civilian and critical infrastructure, especially in the energy sector.” That’s why, after renewing the sanctions in effect since 2014 for the illegal annexation of Crimea, today came the new extension of those contained in the 14 packages adopted between February 24, 2022—the first after the Russian invasion of Ukraine—and June 2024, the last one which also included imports of liquefied natural gas (LNG).

EU sanctions “currently consist of a wide spectrum of sectoral measures, including restrictions on trade, finance, technology and dual-use goods, industry, transportation, and luxury goods,” and include, in particular, a ban on the import or transfer of crude oil by sea and certain petroleum products, the disconnection of several Russian banks from the SWIFT system, and the suspension of the activities and broadcasting licenses in the EU of Kremlin-backed disinformation channels.

In addition to economic sanctions from Brussels, other measures have been put in place in response to Russia’s destabilizing actions against Ukraine, such as the suspension of economic relations with Crimea, the city of Sevastopol, and areas not controlled by the Ukrainian government in the regions of Donetsk, Kherson, Luhansk, and Zaporizhzhia, and restrictive measures against individuals and entities (involving asset freezes and restrictions on travel to EU member countries).