The Council of the European Union has renewed economic sanctions on the Russian Federation
These sanctions, first introduced in 2014 in response to Russia’s actions destabilising the situation in Ukraine, were significantly expanded since February 2022. They consist of a broad spectrum of sectoral measures, including restrictions on trade, finance, technology and dual-use goods, industry, transport and luxury goods.
They also cover: a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU, a de-SWIFTing of several Russian banks.
Since 24 February 2022, the EU has adopted 12 packages of sanctions in response to Russia’s full-scale invasion of Ukraine.
The sanctions do not block the export of and transactions related to food and agricultural products. Besides, EU member states can authorise overflight of their airspace by Russian aircraft if that is required for humanitarian purposes.
