In response to Russia’s actions in Ukraine, the European Union has increased its economic sanctions against the country.


The European Union has increased its economic sanctions against Russia as a result of the Ukraine crisis.

Sanctions have been in place since 2014, and have now been extended until the end of July.


The European Union extended Russia’s economic sanctions for another six months on Thursday.

“Today, the Council (of the European Union) decided to extend the restrictive measures currently targeting specific economic sectors of the Russian Federation for another six months, until 31 July 2022,” the EU institution representing member states said in a statement.

During their last summit in December, EU heads of state and government approved the continuation of sanctions against Russia for failing to follow through on its commitments under the Minsk Agreement to bring peace to eastern Ukraine.

Since 2014, the EU has imposed sanctions on Russia’s financial, military, and energy sectors, accusing the Russian government of destabilizing activities in Ukraine.

Certain Russian banks and companies are restricted from accessing the bloc’s capital markets, and EU companies are prohibited from providing services to Russian financial institutions as a result of the restrictions.

Trade in defense-related goods and sensitive technologies that could be used in Russia’s energy sector are also restricted by the EU.

Moscow began supporting separatist forces in eastern Ukraine in 2014, and has continued to do so for the past seven years.

In recent months, the EU has repeatedly condemned Russia’s continued military buildup in and around Ukraine, and has defended Ukraine’s territorial integrity and sovereignty.

Comments are closed.