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EU: Economic restrictive measures against Russia for another six months, until 31 July 2025

by AI | 27.Jan 2025 | Europe in brief AI

The Council of the EU decided to renew and expand the economic restrictive measures against Russia for another six months.

The President of the European Council, Antonio Costa / Photo: EU

The EU Council decided today to renew and extend the economic restrictive measures against Russia for another six months, until July 31, 2025.

“Today’s unanimous decision to extend the EU sanctions against Russia is vital. Increasing pressure remains necessary as long as Russia continues its brutal aggressive war against Ukraine”, said the President of the European Council Antonio Costa via “X”. “This decision will continue to deprive Moscow of revenue to fund its war. Russia must pay for the damage it causes”, emphasizes the EU High Representative Kaja Kallas.

In the relevant announcement of the Council, it is reminded that the economic measures against Russia, first introduced in 2014, were significantly expanded from February 2022 in response to Russia’s unprovoked, unjustified and illegal military attack on Ukraine. They currently consist of a wide range of measures in various sectors, including restrictions on trade, finance, energy, technology and dual-use goods, industry, transport and luxury goods. They also cover: the ban on the import or transport of seaborne crude oil and certain petroleum products from Russia to the EU, the disconnection of several Russian banks and the suspension of broadcasting activities and licenses in the European Union of Kremlin-supported disinformation media. In addition, specific measures allow the EU to address the circumvention of sanctions.

The decision was adopted unanimously, after the lifting of the veto threat from Hungary. Hungarian Prime Minister Viktor Orban had threatened for weeks to oppose the renewal of sanctions against Russia. Initially, Mr. Orban had stated that he was waiting for Donald Trump’s inauguration and Washington’s position on sanctions against Russia, and then asked for the reopening of the gas pipeline from Ukraine to Central Europe. According to diplomatic sources, in order for Hungary to lift its objections, the EU made a declaration on Hungary’s energy security. (27/01/2025)