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This paper provides a summary of recent economic, financial and budgetary decisions and developments following President Vladimir Putin’s decision of 24 February to start a military attack against Ukraine. It includes recent information relating to the EU sanctions regime, recent economic estimates, and policies supporting economic and financial resilience, including the coordination of national economic and fiscal measures. It also highlights policy recommendations made in the public domain to mitigate ...

Russia's war on Ukraine: EU sanctions in 2022

Накратко 13-04-2022

Outraged by Moscow's illegal and unjustified invasion of Ukraine, the EU Member States have adopted unprecedentedly tough sanctions against Russia, in cooperation with the US, Canada, the UK and other G7 countries, the European Free Trade Area (EFTA) members, and others. Below is a timeline of the sanctions adopted in response to Russia's decision, announced on 21 February 2022, to recognise the non-government controlled areas of Donetsk and Luhansk oblasts in Ukraine as independent entities, and ...

Sanctions in the context of Russia’s invasion of Ukraine

Задълбочен анализ 13-04-2022

This briefing provides summarised and simplified information regarding the sanctions the EU is imposing following the Russian invasion of Ukraine. It covers the EU framework for adopting and imposing sanctions; the sanctions EU is imposing following Russia’s attack on Ukraine; how these are being implemented and enforced and how the EU sanctions can be rendered more effective.

Russia's war on Ukraine: New EU sanctions

Накратко 05-04-2022

Outraged by Moscow's aggressive invasion of Ukraine, EU countries have adopted unprecedentedly tough sanctions in cooperation with close partners such as the US, Canada and the UK. Although Russia will partially adapt, these measures are expected to cause major disruption and isolate the country from the global economy. This paper updates a previous 'at a glance' note of 3 March 2022, by Martin Russell.

As a system for standardised payment instructions and messaging services, SWIFT has become the basis for most global financial transactions. On 2 March 2022, the Council decided to cut seven Russian banks from the SWIFT network, as part of a wider sanctions package, including sanctions against Russia's central bank.

Over the summer and autumn of 2021, in what is increasingly viewed as a hybrid warfare tactic aimed at destabilising Europe, Aliaksandr Lukashenka's Belarussian regime has instrumentalised migrants, manipulating the organisation of flights from the Middle East to Minsk and deliberately orchestrating migrants' onward travel to the EU-Belarus border. With weather conditions endangering migrants' lives, the situation has also led to serious humanitarian consequences. This activity – which many argue ...

Chinese counter-sanctions on EU targets

Накратко 19-05-2021

On 22 March 2021, the People's Republic of China (PRC) announced sanctions on 10 individuals and 4 entities in the EU, including Members of the European Parliament and of the Council's Political and Security Committee, that it said 'severely harm China's sovereignty and interests and maliciously spread lies and disinformation'. It described the sanctions as a response to EU sanctions imposed the same day on a Chinese entity and individuals accused of human rights abuses in Xinjiang (PRC). The dispute ...

Myanmar: The return of the junta

Накратко 16-02-2021

On 1 February 2021, the Myanmar armed forces seized power and imprisoned Aung San Suu Kyi, de facto leader of the country since 2016. The coup threatens to derail Myanmar’s progress towards democracy, which began in 2008 after five decades of brutal military rule. Huge protests have broken out in Myanmar, calling for the restoration of the elected civilian government. The EU is considering additional sanctions against the country.

Sanctions are a key part of the EU's human rights toolbox. The EU adopts restrictive measures – mostly in the form of travel bans and asset freezes – against individuals and organisations responsible for some of the worst human rights violations. Until now, the EU has mostly adopted sanctions targeted at individual countries. Responding to violations from countries not already covered by EU sanctions means adopting a completely new framework for each country. However, the EU is now shifting to a ...

Special purpose vehicle for trade with Iran

Накратко 13-11-2018

Following the May 2018 announcement of the United States' withdrawal from the 2015 Iran nuclear deal and of the re-imposition of US sanctions on Iran, the EU is continuing to endorse implementation of the agreement, providing Iran fulfils its nuclear-related obligations. The EU is also committed to ensuring that EU-Iran trade and economic relations continue to benefit from the positive impact of lifting the sanctions. The EU has already introduced measures to alleviate the effects of US sanctions ...