EU extends sanctions on Russia for 6 more months

The European Union (EU) board announced that it was decided to extend the sanctions, which target certain parts of the Russian economy due to the war, until July 31, 2023.

In the statement made by the European Union (EU) Board, it was noted that the economic sanctions against Russia were first taken in 2014 on the grounds that it destabilized Ukraine, and it was extended once again, and the sanctions were significantly expanded with the Russia-Ukraine war that started in February last year.

Emphasizing that the sanctions against Russia continue in a wide range including trade, finance, industry, technology, transportation, dual-use and luxury goods, the statement said that the import of crude oil transported by sea and some petroleum products from Russia to the EU is prohibited, and some Russian banks were removed from the international payment system SWIFT and the activities of many broadcasting organizations were suspended.

The EU’s economic sanctions against Russia are extended every 6 months.

Russia illegally annexed the Autonomous Republic of Crimea and the city of Sevastopol on March 18, 2014.

The EU first took the decision to impose economic sanctions on Russia in 2014.