Brussels, Europe Brief News – The EU has adopted many sanctions packages to force Russia to withdraw its forces from Ukraine and end the war. These EU sanctions are designed to weaken Moscow’s ability to finance the war.
And most importantly, to impose clear economic and political costs on Russia’s political elite responsible for the invasion. The measures include individual sanctions, economic sanctions, restrictions on media, and diplomatic measures.
Since March 2014, the EU has progressively imposed restrictive measures on Russia in response to :
- The illegal annexation of Crimea in 2014
- The decision to recognize the non-governmental-controlled areas of the Donetsk and Luhansk oblasts as independent entities in 2022
- Unprovoked and unjustified military aggression against Ukraine in 2022
The EU has imposed different types of Sanctions, and they are listed below:
1- Individual restrictive measures
2- Economic sanctions
3- Diplomatic measures
4- Restrictions on Media
5- Restrictions on economic cooperation
5 EU Sanctions Imposed On Russia
Let’s discuss these sanction in detail
1-Individual Restrictive Measures
One thousand one hundred fifty-eight individuals and 98 entities are subject to an asset freeze and a travel ban because their actions have undermined Ukraine’s territorial integrity, sovereignty, and independence.
🔴 The 27 EU member states have adopted a 4th massive sanctions package 🇪🇺 against #Russia.
↓ Individual sanctions
[2/9] pic.twitter.com/Qn8QCBarfj— France Diplomacy🇫🇷🇪🇺 (@francediplo_EN) March 23, 2022
Sanctions individuals include:
-Vladimir Putin
-Members of the Russian State Duma
-Military staff and high-ranking officials
-Sergey Lavrov
-Members of the National Security council
-Businesspeople and oligarchs, including Roman Abramovich
Recommended Read: Analysis: How Russia-Ukraine War is Driving Europe To Unknown Direction
2-Economic Sanctions
In March 2015, EU leaders decided to align the existing EU sanctions regime with the full implementation of the Minsk agreements, which was scheduled for the end of December 2015. Since it did not happen, the council extended the economic sanctions until 31 July 2016.
The economic sanctions have extended successively for six months at a time since July 2016. The decision to extend them was made each time following an assessment of the implementation of the Minsk agreement.
The economic sanctions are currently extended until 31 July 2022. The sanctions target the financial trade, energy, technology, transport, and defense sector.
Read More: How European Markets Plunge Due To Russia Ukraine War 2022?
Financial Sector
i- Prohibition on transactions with the Russian Central bank and the Central bank of Belarus
ii- Restricted access to EU primary and secondary capital markets for certain Russian banks and companies
iii- Swift ban for certain Russian and Belarusian banks
iv- Prohibition on the provision of euro-dominated banknotes to Russia and Belarus
v- Prohibition on investment in and contribution to projects co-financed by the Russian Direct investment fund
Energy
i- Prohibition on imports from Russia of oil, with limited exceptions
ii- Prohibition on exports to Russia of goods and technologies in the oil refining sector
iii- Prohibition on imports from Russia of coal
iv- Prohibition on new investments in the Russian energy sector
Transport
i- Closure of EU ports to Russian vessels
ii- Prohibition on exports to Russia of goods and technology in the aviation, maritime, and space industry
iii- Closure of EU airspace to all Russian-owned and Russian-registered aircraft
iv- Prohibition on Russian and Belarusian road transport operators from entering the EU
Raw materials and other goods
i- Prohibition on exports to Russia of luxury goods
ii- Prohibition on imports from Russia to the EU of iron, steel, wood, cement, seafood, and liquor
Defense
i- Prohibition on trade in arms
ii- Prohibition on exports to Russia of dual-use goods and technology items that could contribute to Russia’s defense and security capabilities
3-Restrictions on Media
In 2022, the EU sanctions broden its scope to the broadcasting activities of five Russian state-owned outlets:
i- Sputnik
ii- Russia today
iii- Rossiya PTR
iv- Rossiya 24
v- TV Centre international
The Russian government has used the outlets as instruments to manipulate information and promote misinformation about the invasion of Ukraine, including propaganda aimed at destabilizing the countries neighboring Russia.
4-Diplomatic Measures
In 2014, the EU-Russia summit was canceled, and EU member states decided not to hold regular bilateral summits with Russia. Bilateral talks with Russia on visa matters were suspended.
EU countries also supported the suspension of negotiations over Russia’s joining the Organization for Economic Cooperation and Development (OECD) and the International Energy Agency (IEA).
In February 2022, the EU decided that Russian diplomats, other Russian officials, and business people may no longer benefit from visa facilitation provisions, which allow privileged access to the EU.
5-Measures Concerning Economic Cooperation
EU leaders introduced restrictions on economic cooperation in July 2014:
EU member states agreed to coordinate their positions within the board of directors of the European Bank for reconstruction and development (EBRD) to also suspend the financing of new operations.
Also Read: Economic Implications of the Russia-Ukraine War for Europe
Conclusion
EU and other member states have done everything possible they could do to push Russia to the corner. But Russia’s aggression against Ukraine is not coming to an end.
The above EU sanctions on Russia have pressured Russia to withdraw their forces from Ukraine. However, Russia is still finding ways to execute its plans. So, the full outcome of these measures are yet to be evident.
