Thursday, 6 October 2022

EU restrictive measures in response to the crisis in Ukraine

5 min read

On 23 February 2022, the Council agreed on sanctions in response to the recognition by Russia of the non-government controlled areas of Donetsk and Luhansk oblasts in Ukraine as independent entities, and the ensuing decision to send Russian troops into these areas.

 

The agreed package includes:

  • sanctions against the 351 members of the Russian parliament who voted in favour of the recognition
  • sanctions against 27 individuals and entities over their actions against territorial integrity, sovereignty and independence of Ukraine
  • restrictions on economic relations with the non-government controlled areas of Donetsk and Luhansk oblasts
  • restrictions Russia's access the EU’s capital and financial markets and services

On 24 February, EU leaders met at a special summit convened following Russia's aggression against Ukraine. They agreed on further sanctions against Russia that target:

  • the financial sector
  • the energy and transport sectors
  • dual-use goods
  • export control and export financing
  • visa policy
  • additional sanctions against Russian individuals
  • new listing criteria

Re-disseminated by The Asian Banker

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