Last EU Sanctions in Connection with the Crisis in Ukraine
Today, EU Restrictive measures on violations of Ukraine’s territorial integrity apply to a total of 555 individuals and 52 entities.
EU renews economic sanctions
Recently, the Council of the European Union decided on 13 January 2022 to prolong the restrictive measures targeting specific economic sectors of the Russian Federation by six months, until 31 July 2022. The Council decision follows the latest assessment of the state of implementation of the Minsk agreements at the European Council of 16 December 2021.economic sanctions against Russia.
Ukraine's territorial integrity: EU sanctions five persons
On 21 February 2022 the Council of the European Union adopted restrictive measures, within the existing sanctions framework first introduced on 17 March 2014 and since then, regularly extended. The Council considered that five individuals should be added to the list of natural and legal persons, entities and bodies subject to restrictive measures “for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine”.
New package of sanctions against Russia
On 23 February 2022, a new package of restrictive measures has been adopted and published in the Official Journal of the EU on February 23 through 5 Regulations and 4 Council Decisions, extending to cover:
- all the 351 members of the Russian State Duma, who voted on 15 February in favour of the appeal to President Putin to recognise the independence of the self-proclaimed Donetsk and Luhansk ”republics”.
- 27 high profile individuals and entities (members of the government, banks and businesspersons, senior military officers, and individuals).
- restrictions on economic relations with the non-government controlled areas of Donetsk and Luhansk oblasts
- restrictions Russia's access the EU’s capital and financial markets and services
More EU restrictive measures have been planned, further to the special meeting held by the European Council on 24 February 2022. They agreed on further sanctions against Russia that target:
the financial sector
the energy and transport sectors
export control and export financing
additional listing of Russian individuals
new listing criteria
Fidal is following these developments closely. We will keep you informed of actions by the EU, the Russian Federation and other actors.
Please do not hesitate to contact Frédéric Puel or Julien Manière or your usual Fidal contact if you have any questions regarding the evolution of international sanctions.