EU adopts new sanctions against Russia
On the occasion of the one-year anniversary of Russia’s full-scale invasion of Ukraine, the EU is toughening its sanctions against Russia. This is the first sanctions package adopted under the Swedish Presidency of the Council of the European Union. The new sanctions include measures such as expanded export restrictions on technological and industrial products vital to Russia’s economy and military capability.
Restrictions have been expanded to include components that can be used in Russian weapons systems. Sanctions are now directed not only at Russia but also at Iran. To prevent these products from reaching Russia, export restrictions have been expanded to cover entities within the Iranian Islamic Revolutionary Guards Corps that are delivering robots used in attacks against civilian infrastructure in Ukraine.
“Our support for Ukraine is stronger than ever. With its tenth sanctions package, the EU continues to show decisiveness by adopting several robust measures that hit Russia’s economy and military capability hard. Continued support for Ukraine is the most important priority of the Swedish Presidency of the Council of the European Union,” says Prime Minister Ulf Kristersson.
In addition to the economic sanctions, almost 100 individuals and entities have been added to the lists. Sanctions are directed at military and political decision-makers, companies supporting or working within the Russian military industry, and commanders in the Wagner Group. Transactions with some of Russia’s largest banks are also prohibited.