EU Council prolongs all economic sanctions against Russia until end of July

The EU Council decided on Friday to prolong by six months, until 31 July 2023, restrictive measures directed against certain sectors of the Russian economy.

Source: Press service of the European Union Council, reports European Pravda

Details: These sanctions were first introduced in 2014 in response to Russia's actions that destabilised the situation in Ukraine. They have been significantly expanded since February 2022 due to Russia's unprovoked and unjustified military aggression against Ukraine.

Currently, the sanctions consist of a wide range of sectoral measures, including restrictions on trade, finance, technology and dual-use goods, industry, transport and luxury goods.

They also cover a ban on the import or transportation by sea of crude oil and certain petroleum products from Russia to the European Union, the disconnection of several Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), and the suspension of broadcasting and licences of several Kremlin-backed disinformation media outlets.

On 25 January, the European Union ambassadors approved the decision to extend sanctions. 

Background: In December 2022, the EU Council finally approved the ninth package of sanctions against Russia for the war against Ukraine. 

Now, the EU member states are working on the 10th sanctions package against Russia, which is supposed to come into force in February, on the anniversary of the full-scale Russian invasion of Ukraine.

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