EU formally adopts additional restrictive measures against Russia
On 31 July, the EU formally adopted the package of significant additional restrictive measures which was agreed on 29 July. These measures target sectoral cooperation and exchanges with the Russian Federation.
Following the conclusions of the special meeting of the European Council of 16 July, the escalation of violence in eastern Ukraine, and the killing of almost 300 innocent civilians on board of MH17 flight, European Council President Van Rompuy announced that the EU agreed to strengthen sanctions against Russia.
These restrictive measures will:
- limit access to EU primary and secondary capital markets for Russian state-owned financial institutions
- impose an embargo on trade in arms
- establish an export ban for dual use goods for military end users
- curtail Russian access to certain sensitive technologies that can be used for oil production and exploration
These restrictions will be published in the EU Official Journal on 31 July and will apply from 1 August.
The package reinforces the measures already adopted by the EU since March 2014 on the situation in Ukraine and the illegal annexation of Crimea.
The statement released on 29 July, in the name of the European Union by Herman Van Rompuy and the President of the European Commission, warned the Russian authorities: "The package of new restrictive measures agreed today by the European Union constitutes a powerful signal to the leaders of the Russian Federation: destabilising Ukraine, or any other Eastern European neighbouring State, will bring heavy costs to its economy."
The statement reiterated the willingness of the EU to engage in an open and frank dialogue with the Russian authorities and its readiness to reverse its decisions on sanctions when they start contributing actively and without ambiguities to finding a solution to the Ukrainian crisis.
For more information on EU restrictive measures in view of the crisis in Ukraine, see background note.