European Council extends sanctions against Russia

The European Council decided today to prolong the restrictive measures targeting those responsible for undermining or threatening the territorial integrity, sovereignty, and independence of Ukraine for another six months, until March15, 2025, Report informs, citing the statement of the Council.

“The existing restrictive measures provide for travel restrictions for natural persons, the freezing of assets, and a ban on making funds or other economic resources available to the listed individuals and entities. Sanctions will continue to apply to over 2,200 individuals and entities, many of which are targeted in response to Russia’s ongoing unjustified and unprovoked military aggression against Ukraine.

In the context of the sanctions' review, the Council also decided not to renew the listings of two individuals and remove five deceased persons from the list.

After February 24, 2022, in response to Russia’s military aggression against Ukraine, the EU massively expanded sanctions against Russia with the aim of significantly weakening Russia's economic base, depriving it of critical technologies and markets, and significantly curtailing its ability to wage war.

On June 27, 2024, the European Council adopted conclusions in which it reconfirmed the continued support for Ukraine’s independence, sovereignty and territorial integrity within its internationally recognized borders and reconfirmed the EU’s unwavering commitment to providing continued political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people for as long as it takes and as intensely as needed. Russia must not prevail.

The European Council also called for the full and effective enforcement of sanctions, as well as for further measures to counter their circumvention, and stated that the EU remains ready to further limit Russia’s ability to wage war,” reads the statement.