The European Union (EU) announced this Thursday that it will extend, until January 31, 2024, import sanctions against various sectors of the Russian Federation’s economy due to the invasion of Ukraine.
The European Commission statement announced the extension of sanctions, first introduced in 2014, when Crimea was annexed, and extended after February 24, 2022, in response to “Russia’s unjustified and unprovoked military aggression against Ukraine.”
The EU sanctions cover a “broad spectrum” of sectors of the Russian economy, namely trade, financial, technological, industrial, transport restrictions, as well as goods considered luxury goods.
On June 23, the Council of the EU adopted this Thursday the 11th package of sanctions against Russia for its invasion of Ukraine, aimed at cooperation with third countries and allowing for “exceptional measures of last resort.”
According to the Council, the approved package, which required unanimity among the EU countries after initial opposition from Hungary and Greece, is aimed at “strengthening bilateral and multilateral cooperation with third countries and providing technical assistance” precisely to prevent the circumvention of sanctions.
In cases where “cooperation does not produce the expected results, the EU will take prompt, proportionate and targeted measures,” the organization notes.
“If, despite individual sanctions and greater commitment, evasion remains significant and systematic, the EU will have the opportunity to take exceptional measures as a last resort,” the Council underlines, noting that a unanimous decision could be taken to limit the “sale, supply and transfer or the export of goods and technologies whose export to Russia is already prohibited” to third countries that pose a “permanent risk” of sanctions evasion.
The official adoption this Thursday comes after the ambassadors of EU member states on Wednesday reached a political agreement on the 11th round of sanctions against Russia.
Author: Portuguese
Source: CM Jornal
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