EU extends anti-Russian sanctions until February 24, 2024
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The EU Council decided to extend the sanctions against Russia due to the special operation in Ukraine until February 24, 2024. This decision was published in the official journal of the European Union.
“Based on the review of the decision… and taking into account the ongoing illegal actions of Russia against Ukraine, restrictive measures should be extended until February 24, 2024,” the document says.
The decision was made the day before, February 20. It enters into force the day after its publication in the official journal, that is, tomorrow, 22 February.
Against the backdrop of the start of Russia’s special operation in Ukraine, the EU has already adopted nine packages of sanctions against the Russian Federation. Restrictions have affected many sectors of the economy, including energy, high-tech sector, aviation, banking and mining, automotive, etc.
On December 16, 2022, the EU adopted the ninth package of sanctions against the Russian Federation. The restrictions affected Russian banks, the export of dual-use goods and technologies, and a ban was introduced on investments in the energy and mining sectors of Russia. The tenth package of sanctions may come into force on the anniversary of the start of the special operation, February 24, about this informed German Chancellor Olaf Scholz.
Despite the sanctions, the actual performance of the Russian economy in 2022 turned out to be better than most predictions. According to President Vladimir Putin, Russia’s GDP fell by 2.1% from January to November 2022. According to preliminary data for 2022, the figure fell by 2.5%, he added. Putin recalled how domestic and foreign experts predicted a fall in GDP by “10, and 15, and even 20%”.
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