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EU extends sanctions on Russia: 'It must pay for the damage it has caused'

The European Union (EU) has announced that it will extend the economic sanctions imposed on Russia due to the ongoing war in Ukraine for another 6 months.

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EU High Representative for Foreign Affairs and Security Policy Kaja Kallas provided information regarding the decisions taken while the meeting of EU foreign ministers was ongoing in Brussels. According to Kallas' statement, the EU's 'Ukraine war' sanctions, which have been in place against Russia since 2022, have been extended for 6 months.

Kallas stated, 'EU foreign ministers have agreed to extend the sanctions on Russia again,' noting that the extension of the sanctions would deprive Moscow of the revenues needed to finance the war.

Under the decision, the restrictive measures, which were first introduced in 2014 due to Russia's actions aimed at destabilizing Ukraine and significantly expanded following the invasion of Ukraine in February 2022, will be extended until July 31, 2025.

The EU has so far implemented 15 packages of sanctions against Russia. Within this framework, a wide range of restrictions are being applied to Russia, including trade, finance, energy—such as oil and coal—industry, technology, transport, dual-use and luxury goods, as well as gold and diamonds.

The Estonian EU High Representative remarked, 'Russia needs to pay for the damage they are causing.'

EU High Representative for Foreign Affairs and Security Policy Kaja Kallas

EU SANCTIONS AGAINST RUSSIA

The ban on the shipment of crude oil and certain petroleum products from Russia to the EU by sea, the removal of several Russian banks from the international payment system SWIFT, and the suspension of the activities of numerous media outlets are also among the sanctions.

The EU's sanctions list includes more than 2 thousand individuals and entities.

The duration of the EU's economic sanctions on Russia is extended every 6 months. The current sanctions were set to expire on January 31, 2025. Unanimity is required for the decision to extend these sanctions to be adopted.

Due to concerns in the energy sector, Hungary had for some time not been approving the decision to extend the sanctions.