EU Extends Sanctions Against Russia

EnergyOil & Gas ♦ Published: January 29, 2023; 22:14 ♦ (Vindobona)

The European Union is extending its economic sanctions against the Russian Federation for the aggression in Ukraine. The sanctions will be extended for a half year now.

The European Union Extends the Economic Sanctions against Russia because of its ongoing aggression in Ukraine. / Picture: © Wikimedia Commons / Yevgen Nasadyuk (Євген Насадюк), CC BY-SA 3.0

The EU has extended the current economic sanctions against Russia for six months because of the aggression against Ukraine. According to a decision by the EU states today, the measures will now run until July 31, as the EU Council announced. The first EU punitive measures against Russia were introduced after a Malaysian plane carrying 298 people over eastern Ukraine crashed in July 2014. According to investigations, pro-Russian separatists shot down the plane. After the start of the Russian war of aggression in Ukraine on February 24, 2022, the EU greatly expanded its sanctions, according to ORF.

According to Die Presse, Currently, the measures include restrictions on trade, finance, technology, and transport, among others. Several Russian banks have also been excluded from the Swift banking communications network, and crude oil imports from Russia have largely been banned.

As reported by, Meanwhile, Japan is freezing the assets of other Russian individuals and organizations. As the Japanese news agency Kyodo reported today, citing the government in Tokyo, this affects 36 people and 52 organizations, including Russian politicians, officers, businessmen, and companies. In addition to freezing funds, the additional sanctions also include export bans. The EU Commission welcomed the strengthening of the sanctions on Friday.

According to ORF, since the beginning of the war, Japan has consistently imposed economic sanctions on Moscow, consistent with Western policies. The assets of Russian President Vladimir Putin, the central bank, and Belarusian ruler Alexander Lukashenko were also frozen.