EU: sanctions against Russia
The EU has imposed sanctions against Russia due to the illegal invasion of Ukraine. The sanctions remain necessary to further increase pressure on Russia and undermine its capabilities to continue the war. Sanctions make it more difficult for Russia to finance the war.
The new sanctions in brief
83 new individuals and organizations added to the sanctions list
The EU has added 48 individuals and 35 organizations to the sanctions list. New rules have also been introduced to facilitate measures against individuals and organizations involved in the Russian shadow fleet and the Russian war industry.
Measures against the Russian shadow fleet
The EU imposes sanctions on additional ships that are part of the Russian shadow fleet. These ships are involved in circumventing the oil price cap or transporting stolen Ukrainian grain. With the sanctions, these ships no longer have access to European ports and services. This ban now applies to 153 ships.
Transaction ban for financial institutions using SPFS
The EU imposes a transaction ban on financial institutions outside Russia that use the ‘System for Transfer of Financial Messages’ (SPFS) of the Russian Central Bank.
More export restrictions
The EU has imposed stricter export restrictions on 53 organizations that support the Russian war industry. One third of these organizations are Russian, but there are also companies from China, India, Kazakhstan, Singapore, the United Arab Emirates, and Uzbekistan that have been involved in circumventing sanctions or trading in military goods or components.
There will also be trade restrictions on more goods that Russia earns money from, such as aluminum and types of plastic and rubber. And export restrictions on products that Russia can use for weapons and military systems, including chemical agents like chloropicrin and remote controls used to operate unmanned aerial vehicles.
Broadcasting ban on Russian media channels in the EU
The EU revokes the broadcasting licenses of 8 Russian media channels: EADaily / Eurasia Daily, Fondsk, Lenta, NewsFront, RuBaltic, SouthFront, Strategic Culture Foundation, and Krasnaya Zvezda / Tvzvezda. These channels are under permanent supervision of the Russian state and are an important Russian instrument in justifying the war in Ukraine and destabilizing neighboring countries and EU member states.
Transport
The EU extends the flight ban to all airlines conducting domestic flights in Russia or exporting aircraft or other goods to Russian airlines.
The existing ban on the transport of goods by road within the territory of the EU by companies that are 25% or more owned by a Russian natural or legal person is also being tightened.
Other
The new sanctions package also includes:
- further restrictions on the export of goods and technology (software) intended for finding oil and gas to further hinder Russian production.
- a ban on providing temporary storage for Russian crude oil within the EU.
- additional measures against Belarus, including restrictions on the provision of services and software, crypto-wallets, and transport.
- additional restrictions on the provision of services from the EU to Crimea and Sevastopol, and the areas occupied by Russia in Donetsk, Kherson, Luhansk, and Zaporizhzhia.
Do the sanctions against Russia have an effect?
The sanctions against Russia are impacting the Russian treasury. Over €300 billion from the Russian Central Bank has been blocked in the EU and G7 countries. More than €21 billion in private assets have been frozen. And Russia is missing out on about €91 billion in exports to the EU. Money that Russia cannot use to wage war. Read also the article: Do sanctions work?
Export restrictions also ensure that Russia has less access to advanced technology, such as aircraft parts and computer chips.
Continued Commitment of the European Union
The European Union continues to commit to supporting Ukraine in its right to self-defense against Russian aggression and to building a peaceful, democratic, and prosperous future. A complete overview of the sanctions can be found on the EUs sanctions page. Also see the EU timeline of sanctions against Russia.
Dutch Implementation of Sanctions
Want to know more about the sanctions and how the Netherlands implements them? Check out the page sanctions against Russia and Belarus.