This is what the European Union (EU) Is doing and why
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| President of Russia, Vladimir Putin, and President of Ukraine, Volodymyr Zelenskyy. Photos: Getty Images |
According to finance.ec.europa.eu:
Since March 2014, the EU has progressively imposed restrictive measures (sanctions) against Russia, initially in response to the illegal annexation of Crimea and Sevastopol and the deliberate destabilisation of Ukraine. On 23 February 2022, the EU expanded the sanctions in response to the recognition of the non-government controlled areas of the Donetsk and Luhansk ‘oblasts’ of Ukraine, and the ordering of Russian armed forces into those areas. After 24 February 2022, in response to Russia’s military aggression against Ukraine, the EU massively expanded the sanctions. It added a significant number of individuals and organisations to the sanctions list, and adopted unprecedented measures with the aim of weakening Russia’s economic base, depriving it of critical technologies and markets, and significantly curtailing its ability to wage war.
In parallel, the EU sanctions regime concerning Belarus has been expanded in response to the country’s involvement in Russia’s aggression against Ukraine. This is in addition to the sanctions aimed at Belarus that were already in place. This sanctions regime consists of a range of financial, economic and trade measures.
Read more on EU sanctions package against Russia HERE
