The restrictions will remain in effect as long as Russia’s illegal actions continue to violate basic norms of international law, the European Council said.
The European Union has extended economic sanctions against Russia for another six months for its war against Ukraine. The restrictions will remain in effect until July 31, the European Council announced on Monday, January 27.
“These economic measures, first introduced in 2014, have been significantly expanded since February 2022 in response to Russia’s unprovoked, unjustified and illegal military aggression against Ukraine,” it said.
The Rada recalled that these sanctions now consist of a wide range of sectoral measures, including restrictions on trade, finance, energy, technology and dual-use goods, industry, transport and luxury goods. They also include a ban on the import or transfer of marine crude oil and some petroleum products from Russia to the EU, and cut-offs from SWIFT for some Russian banks. Also, some measures allow the EU to counter sanctions avoidance.
“As long as the illegal actions of the Russian Federation continue to violate the basic norms of international law, including, in particular, the prohibition of the use of force, it is advisable to leave to force all measures introduced by EU and take further measures if necessary,” the European Council concluded.
Earlier, the media reported that Hungary at the last moment agreed to approve the extension of sanctions against Russia. Budapest will make concessions in exchange for a statement addressing its concerns about “energy security.”
Later it became known that Hungary called on the EU to put pressure on Ukraine to maintain Russian oil transit and conduct a dialogue on gas transit.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.