Press releases, 2.3.2022

EU imposes new sanctions in response to Russia’s actions

The Member States of the European Union approved new sanctions on Tuesday 1 March.

The European Union, together with its close partners, responded to Russia’s aggression against Ukraine by imposing new sanctions. The sanctions, adopted on Tuesday 1 March, complement the EU’s earlier package of restrictive measures against Russia.

The decision expanded the list of persons targeted by sanctions due to their involvement in actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine. The sanctions list now includes Belarusian military personnel. These persons will be subject to asset freezes and travel and transit restrictions.

Sector-specific financial sanctions were expanded by excluding seven Russian banks from SWIFT (Society for Worldwide Interbank Financial Telecommunication). The system is used for transmitting messages relating to payment and securities transactions. The messaging system of a bank subject to the sanctions will be cut from the SWIFT network. In addition, a decision was made to prohibit transfer or export euro-denominated banknotes to Russia, with certain exceptions, as well as investments and participation in projects co-financed by the Russian Direct Investment Fund (RDIF). The ban on the transfer or export euro-denominated banknotes has entered into force, and the exclusion from the SWIFT system will enter into force within a 10-day transition period. The decisions will intensify the previously introduced sanctions in the financial sector. In addition, the EU adopted a proposal, supported at an informal video conference of the EU foreign ministers on 27 February, to suspend the broadcasting activities of Russian State-owned media channels (RT and Sputnik) in order to prevent the spread of disinformation.

 

Sanctions on media

SWIFT

Individual sanctions

 

Inquiries:

Ilkka-Pekka Similä, Director General, Department for International Trade, tel. +358 50 336 3856

Marja Liivala, Director General, Department for Russia, Eastern Europe and Central Asia (personal sanctions), tel. + 358 50 401 6135

The Foreign Ministry’s email addresses are in the format firstname.lastname@formin.fi.

 

All news relating to Russian attack on Ukraine