The Member States of the European Union approved new sanctions on Tuesday 15 March.
Russia’s invasion of Ukraine has led to a large-scale humanitarian emergency and a migration crisis. The European Union, together with its close partners, responded to Russia’s aggression against Ukraine by imposing new sanctions. The sanctions adopted on Tuesday 15 March complement the earlier package of sanctions imposed by the EU on Russia in response to its attacks.
The decision expands the list of individuals and companies targeted by sanctions that are 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 as well as media and information influencers. The new companies on the sanctions list represent Russia’s arms industry.
Sector-specific economic sanctions were expanded by prohibiting financing transactions with certain state-owned companies and imposing a ban on offering credit rating services to Russian clients, with the exception of financing transactions to secure the acquisition, import or transport of essential fossil fuels and certain other raw materials to the European Union. Export restrictions were tightened for items subject to controls. New investments in the Russian energy sector were banned and comprehensive export restrictions were imposed on equipment, technology and services. The restrictions do not apply to the civilian nuclear energy sector and energy transport. In addition, sanctions were tightened for the export of luxury goods, and import bans were imposed on certain iron and steel products.
Individual sanctions
Council Decision(Link to another website.)
Regulation(Link to another website.)
Sector-specific sanctions
Council Decision(Link to another website.)
Regulation(Link to another website.)
Inquiries:
Pia Sarivaara, First Secretary, Team Leader, (sanctions), tel. +358 295 350 660
Teemu Sepponen, Counsellor (export control), tel. + 358 295 351 045
The Foreign Ministry’s email addresses are in the format firstname.lastname@formin.fi.
