The European Union (EU) has decided to extend the duration of economic sanctions imposed on Russia by 6 months.
The EU Council announced that the restrictive measures first introduced in 2014 due to Russia’s actions aimed at destabilising Ukraine have been extended until 31 January 2025.
The statement recalled that EU sanctions were significantly expanded following Russia’s attack on Ukraine in February 2022.
The EU has so far implemented 14 sanctions packages against Russia.
Within this framework, Russia is subject to a wide range of restrictions, including trade, finance, energy including oil and coal, industry, technology, transportation, dual-use and luxury goods, and gold and diamonds.
The sanctions also include a ban on the import of seaborne crude oil and some petroleum products from Russia to the EU, the expulsion of some Russian banks from the international payment system SWIFT and the suspension of the activities of many broadcasting organizations.
The EU’s economic sanctions against Russia are extended every 6 months.
Russia illegally annexed the Autonomous Republic of Crimea and the city of Sevastopol on March 18, 2014. The EU first decided to impose economic sanctions on Russia in 2014.
