The European Union (EU) announced on Thursday that it will extend import sanctions against various sectors of the economy of the Russian Federation until January 31, 2024, because of the invasion of Ukraine.
In a statement, the European Commission announced the extension of sanctions first imposed in 2014, when Crimea was annexed, and extended beyond February 24, 2022. in response to “Russia’s unjustified and unprovoked military aggression against Ukraine”.
EU sanctions cover a “broad spectrum” of sectors of the Russian economy, namely trade, financial, technological, industrial, transport restrictions and also products that are considered luxury.
The Council of the EU has adopted the 11th package of sanctions against Russia for its invasion of Ukraine, focusing on cooperation with third countries and allowing “exceptional measures of last resort”.
According to the Council, the approved package, which required unanimity of EU countries after initial opposition from Hungary and Greece, aims to “enhance bilateral and multilateral cooperation with third countries and the provision of technical assistance” precisely to prevent sanctions be bypassed.
In cases where “cooperation does not deliver the intended results, the EU will take prompt, proportionate and targeted measures”, the institution emphasizes.
“If, despite individual sanctions and increased efforts, evasion remains substantial and systemic, the EU will have the possibility to take exceptional measures as a last resort”, the Council emphasizes, pointing out that restrictions on the “sale of , supply and transfer or export of goods and technologies already banned for export to Russia” to third countries that pose a “persistent risk” of sanctions circumvention.
Today’s official approval comes after member states’ ambassadors to the EU reached a political agreement on Wednesday on the eleventh package of sanctions against Russia.
Source: DN
