EU imposes new sanctions on Russia and Belarus

The Member States of the European Union approved new sanctions on Wednesday 9 March.

The European Union, together with its close partners, responded to Russia’s attack on Ukraine by imposing new sanctions. The sanctions adopted on Wednesday 9 March complement the earlier the package of sanctions imposed by the EU on Russia in response to its actions.

The decision expands the list of persons targeted by sanctions linked to actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. These sanctions include asset freezes and travel and transit restrictions.  The individuals added to the sanctions list are leaders of large companies and financial institutions that support the Russian government, political decision-makers as well as media and information influencers. The listed individuals support and benefit from the government of the Russian Federation and constitute a major source of income for it.

Economic sanctions that target specific economic sectors were extended in the maritime sector by imposing an export ban on maritime navigation goods and technology and related services as well as in the financial sector by placing crypto-currencies within the scope of existing prohibited activities.

The territory of Belarus has been used for the invasion of Ukraine, which is why Belarus is considered a party to the attack. Part of the he financial sanctions earlier imposed on Russia were extended to also apply to Belarus. In this way, Russia will not be able to circumvent the sanctions through Belarus either.

Individual sanctions and the sanctions on maritime sector are connected with the sanctions imposed by the EU on Russia, and the financial sector applies to the sanctions imposed by the EU on Belarus.

Individual sanctions

Maritime sector

Financial sector

Inquiries: Mikael Ruotsi, Senior Officer, Legislative Affairs (sanctions), tel. +358 295 350 826 or Teemu Sepponen, Director (export control), tel. + 358 295 351 045

 

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