EU extends Russian economic sanctions over Ukraine war

The European Union Council on Thursday renewed the EU restrictive measures against Russia, citing its continuing “destabilizing actions” in Ukraine.

The extension for a further 12 months, until 31 July 2027, follows last week’s decision of the Council, where EU leaders agreed to lengthen the sanctions.

The economic measures, first introduced in 2014, were expanded in February 2022 after Russia commenced its “special military operation” in Ukraine.

The sanctions cover key sectors, including trade, finance, energy, dual-use technology, import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU.

They also affect several financial institutions and crypto service providers in Russia and in third states, as well as broadcasting activities and licenses of Kremlin-backed media outlets.

The EU has vowed to sustain the measures as long as Russia “continues its illegal actions and violations of the fundamental rules of international law, including the prohibition on the use of force.”

The Council, meanwhile, reaffirmed its firm and unwavering support for Ukraine’s independence, sovereignty and territorial integrity within its internationally recognized borders.

​The EU ​said it will continue to provide, ​alongside partners and allies, comprehensive political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people.

Since February 2022, the 27-member bloc has adopted 20 “unprecedented and hard-hitting” packages of sanctions in response to Russia’s full-scale invasion of Ukraine.