The Council of the European Union has decided to extend the extensive economic sanctions against the Russian Federation for another six months, until January 31, 2026.
This is reported by Kyiv24
Sanctions: Areas of Impact and Key Restrictions
The restrictive measures, which were first introduced in 2014 following the illegal annexation of Crimea, have been significantly intensified since February 2022 in response to Russia’s full-scale invasion of Ukraine. The current sanctions package covers trade, the financial sector, energy, technology and dual-use goods, industry, transport, and luxury items. In addition, there is a ban on the import and maritime transport of crude oil and certain petroleum products from Russia to EU countries, several Russian banks have been disconnected from the international SWIFT system, and several pro-Kremlin media outlets have been stripped of their broadcasting rights in the EU.
The European Union is also actively implementing measures to counteract the circumvention of sanctions, ensuring their effectiveness and enhancing oversight of compliance with restrictions. The EU intends to maintain the validity of the imposed measures and, if necessary, implement additional ones as long as Russia continues to violate international law and the fundamental principles of peaceful coexistence among states.
The EU considers it appropriate to maintain all measures imposed by the EU and to take additional actions if necessary, as long as the Russian Federation continues to violate fundamental norms of international law, including the prohibition on the use of force.
Political Decisions and the Future of Sanction Policy
On June 26, during the EU summit, the leaders of the member states confirmed their political agreement to extend the existing sanctions against Russia. At the same time, the approval of a new, 18th package of restrictions proposed by the European Commission is currently being blocked by Slovakia. The new sanctions involve further restrictions on Russia’s energy and banking sectors. The European Union emphasizes its readiness to respond with new measures in the event of continued aggressive policies by the Russian Federation.