EU restrictive measures in response to the crisis in Ukraine

Since March 2014, the EU has gradually introduced restrictive measures in response to the country’s illegal annexation. CrimeaRussia’s decision to recognize the territories of the oblasts as independent entities from Donetsk and Luhansk deliberate destabilization of Ukraine, which is not controlled by the government.

EU founded different shapes restrictive measures:

  • diplomatic measures
  • individual restrictive measures (asset freeze and restrictions on entry into EU territory)
  • Restrictions on economic relations with Crimea and Sevastopol
  • economic sanctions
  • restrictions on economic cooperation

Below you will find more information about each type of restrictive measure.

diplomatic measures

in 2014, EU-Russia summit canceled and EU member states decided not to hold periodic bilateral summits with Russia. Bilateral talks with Russia on visa issues and the new EU-Russia agreement were suspended.

Instead of the G8 summit in Sochi, G7 summit It was held on 4 and 5 June 2014 in Brussels without Russia. Since then, the meetings have continued within the framework of the G7.

EU countries also supported the suspension of negotiations on Russia’s participation in the Organization for Economic Cooperation and Development (OECD) and the International Energy Agency (IEA).

Individual restrictive measures

Asset freezes and restrictions on entry to the EU

555 people and 52 organizations They are subject to an asset freeze and an entry ban on EU territory, as their actions endanger Ukraine’s territorial integrity, sovereignty and independence. The list of persons and institutions to be sanctioned is constantly monitored by the Board and periodically renewed.

These measures were implemented in March 2014. Until March 15, 2022.

Misappropriation of Ukrainian state funds

In March 2014, the Council decided to freeze the assets of certain individuals responsible for the embezzlement of Ukrainian state funds. These measures were last extended in March 2020. Until March 6, 2022.

Restrictions on economic relations with non-governmental controlled areas of Donetsk and Luhansk oblasts

The Council took restrictive measures in response to the decision of the Russian Federation to recognize the non-government-controlled areas of Ukraine’s Donetsk and Luhansk oblasts as independent entities, and then the subsequent decision to send Russian troops.

The scope of the measures is limited to regions not controlled by the government of the Donetsk and Luhansk oblasts. These measures include:

  • a import ban item
  • limitations trade and investment related to certain economic sectors.
  • a ban provision of tourism services
  • a export ban for certain goods and technologies

Restrictions on economic relations with Crimea and Sevastopol

The Council adopted restrictive measures in response to the illegal annexation of Crimea and Sevastopol by the Russian Federation.

The measures apply to EU citizens and businesses established in the EU. Their scope is limited to the Crimea and Sevastopol region.

These measures include:

  • a import ban item
  • from trade and investment restrictions related to specific economic sectors and infrastructure projects
  • a ban provision of tourism services
  • a export ban for certain goods and technologies

On 21 June 2021 the Council extended these measures until: 23 June 2022.

Economic sanctions targeting trade with Russia in certain economic sectors

In July and September 2014, the EU imposed economic sanctions targeting trade with Russia. specific economic sectors.

EU leaders in March 2015,Align the existing sanctions regime with the full implementation of the Minsk agreementsIt is scheduled for the end of December 2015. As this did not happen, the Council extended the economic sanctions until 31 July 2016.

Economic sanctions were imposed extended for six consecutive months since 1private July 2016.

The decision to extend them was made each time after an assessment of the implementation of the Minsk agreements. Economic sanctions extended for now Until 31st July 2022.

These restrictive measures have the following effects:

  • Limiting access to the EU’s primary and secondary capital markets for some Russian banks and companies
  • to impose arms export and import embargo
  • related toban the export of dual-use goods Designed for military use or military end users in Russia
  • to restrictRussian access to certain sensitive services and technologies can be used for oil production and exploration

On February 23, 2022, the Board forbidden The financial sector, government and central bank of the Russian Federation. By targeting the capabilities of the Russian state and government Access to EU financial markets and servicesThe EU aims to limit the financing of aggressive escalation policies.

Measures on economic cooperation

Restrictions on economic cooperation were introduced by EU leaders in July 2014:

  • The European Investment Bank (EIB) has been asked to suspend the signing of new financing operations in the Russian Federation
  • EU Member States have decided to coordinate their positions within the board of directors of the European Bank for Reconstruction and Development (EBRD), with the aim of also suspending the financing of new operations.
  • The implementation of the EU’s bilateral and regional cooperation programs with Russia was reviewed and some programs were suspended