News item | 26-02-2023 | 09:07
On February 24, 2023, the European Union (EU) adopted new sanctions against Russia. The sanctions include an export ban on even more parts that Russia can use for weapons. There are also new persons and entities on the sanctions list, and additional measures are being taken to prevent the circumvention of sanctions.
EU: sanctions against Russia
The EU has adopted new sanctions against Russia. The sanctions were imposed in response to Russia’s illegal annexation of Ukrainian territory. The sanctions remain necessary to exert maximum pressure on Russia to end the aggression in Ukraine. This new package touches more than €11 billion in Russia’s trade volume.
The new sanctions in brief:
More persons and entities on the sanctions list
The EU has added 121 persons and entities to the sanctions list. These include:
- those responsible for the Russian abduction of Ukrainian children;
- individuals and organizations that facilitate the looting of Ukrainian resources;
- organizations involved in the Russian military and defense sector, for example developers of drones used against civilians and civilian infrastructure;
- key Russian decision-makers, military leaders, members and supporters of the Russian Wagner Group, senior government officials and parliamentarians;
- proxy authorities in the regions occupied by Russia;
- media organisations, and persons and entities responsible for spreading disinformation;
- three Russian banks, whose assets are frozen.
- the EU also imposes sanctions on Iranian individuals and entities associated with supplying drones to Russia.
New bans on exports and imports
The EU is imposing more bans on the export of certain goods. For example, electronics, industrial goods, specialized vehicles and parts for trucks and jet engines. There are also new export bans on goods that can be used for military purposes. Think of parts that Russia can use for weapon systems such as drones, missiles and helicopters. In addition, there will be restrictions on the export of certain rare raw materials and thermal cameras.
On the import synthetic rubber, bitumen and asphalt have been banned from Russia.
Additional measures against circumvention of sanctions
The EU wants to make it even more difficult to circumvent the sanctions. One of the measures is a reporting obligation for frozen assets (and assets that must be frozen). This also applies to assets of the Russian Central Bank.
Are sanctions against Russia effective?
The Russian economy is shrinking and the sanctions are hitting the Russian treasury. In addition, export restrictions mean that Russia has less and less high technology in stock, such as aircraft parts and computer chips. Read more about the consequences of the sanctions for the Russian economy.
Continued commitment to the European Union
The European Union remains committed to supporting Ukraine’s right of self-defense against Russian aggression. And to build a peaceful, democratic and prosperous future. A complete overview of the sanctions can be found on the EU sanctions page. See also the EU timeline of sanctions against Russia.
Dutch implementation of sanctions
Would you like to know more about the sanctions and how the Netherlands implements them? View the page sanctions against Russia and Belarus (Belarus).
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