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 persons and entities to the sanctions list, and adopted unprecedented measures with the aim of significantly 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 that country’s involvement in Russia’s aggression against Ukraine and in addition to the sanctions already in place in view of the situation in Belarus. This sanctions regime consists of an array of financial, economic and trade measures.

The respective Council Regulations identified below are addressed to all persons, entities and bodies under EU jurisdiction, for which they create legal obligations.

Timeline: measures adopted in 2022

In reaction to Russia’s military aggression against Ukraine the European Union adopted sanctions against Russia.

Here is the list of the financial sanctions that have been adopted.

Overview of sanctions in place

Economic sanctions on Russia

The economic sanctions target exchanges with Russia in specific economic sectors. The sanctions regime laying down these economic sanctions consists of Council Decision 2014/512/CFSP and Council Regulation (EU) No 833/2014.

As of 8 April 2022, the economic sanctions regime includes the following measures

  • prohibition on trade in arms (not covered on this website)
  • prohibition on public financing or financial assistance for trade with, or investment in Russia
  • prohibition on investment and contribution to projects co-financed by the Russian Direct Investment Fund
  • prohibition on exports of dual-use goods as well as advanced technology items that can contribute to Russia’s defence and security capabilities
  • prohibition on exports of quantum computing, advanced semiconductors, sensitive machinery, transportation and chemicals
  • prohibition on the broadcast in the EU of certain Russian state-owned media outlets
  • prohibition on exports of goods for use in the oil industry
  • prohibition on new investments in the energy sector
  • prohibition on certain operations in the aviation sector
  • prohibition on Russian freight operators
  • prohibition to access EU ports
  • prohibition on exports of maritime navigation goods
  • prohibition on exports of luxury goods
  • prohibition on imports of coal
  • prohibition on imports of iron and steel
  • prohibition on imports of cement, rubber products, wood, spirits, liquor, high-end seafood
  • prohibition on the financing of the Russian government and Central Bank as well as banning all those transactions related to the management of the Central Bank’s reserves and assets
  • prohibitions on a range of financial interactions, financial rating services and transactions with Russia, as well as prohibitions on the provision of banknotes and sale of securities
  • decoupling of certain Russian banks from the SWIFT messaging system
  • prohibition on providing high-value crypto services and trust services
  • full exclusion of Russia from public contracts and European money

Individual restrictive measures

The measures consist of travel bans and financial measures (asset freezes and a prohibition to make funds or economic resources available) that now target a total of 1,091 individuals and over 80 entities responsible for undermining Ukraine’s territorial integrity, sovereignty and independence. This sanctions regime consists of Council Decision 2014/145/CFSP and Council Regulation (EU) No 269/2014.

Financial measures were also adopted against persons responsible for the misappropriation of Ukrainian State funds, and persons responsible for human rights violations in Ukraine. This sanctions regime consists of Council Decision 2014/119/CFSP and Council Regulation (EU) No 208/2014.

Note that certain Russian persons and entities are listed separately in the EU sanctions regimes concerning human rights; cyber-attacks; chemical weapons; Libya; and Syria. For more information please access the EU sanctions map.


Restrictions on trade and investment with certain territories

Since 2014, restrictions on trade and investment have been imposed in regard to Crimea and Sevastopol. This sanctions regime consists of Council Decision 2014/386/CFSP and Council Regulation (EU) No 692/2014.

In 2022, restrictions on trade and investment were also imposed in regard to the non-government controlled territories of Donetsk and Luhansk oblasts of Ukraine. This sanctions regime consists of Council Decision (CFSP) 2022/266 and Council Regulation (EU) 2022/263. The measures therein are very similar to those concerning Crimea and Sevastopol.


Restrictive measures concerning Belarus

Since 2020, an array of restrictive measures have been imposed in regard to Belarus, including economic sanctions, individual restrictive measures and restrictions on trade. All these measures form part of a single sanctions regime consisting of Council Decision 2012/642/CFSP and Council Regulation (EC) No 765/2006.


Related documents

Russia

Belarus

Ukraine territorial integrity; Misappropriations

Crimea; Donetsk & Luhansk

Frequently asked questions:

A. Horizontal

General questions

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Circumvention and due diligence

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B. Individual financial measures

Assets freeze and prohibition to provide funds or economic resources

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C. Finance and banking

Insurance and reinsurance

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Deposits

Article 5g of Council Regulation No 833/2014 and Article 1z of Council Regulation No 765/2006 establish reporting obligations from credit institutions to their national competent authority (NCA) or to the Commission by 27 May 2022 on deposits exceeding 100 000 EUR held by Russian or Belarusian nationals or natural persons residing in Russia or Belarus, or by legal persons, entities or bodies established in Russia or Belarus.

The European Banking Authority (EBA) has developed a template to help credit institutions and NCAs in such reporting. There is no obligation to use this template, but credit institutions and NCAs encouraged to apply it in order to ensure supervisory convergence and reduction of the associated reporting costs, especially for cross-border banks. It is worth noting that although the reporting template is prepared with support from the EBA, there is no reporting line to the EBA

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Trading

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Russian Central Bank

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Sale of securities

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Banknotes

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Investment funds

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Central securities depositories

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Credit rating

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Crypto assets

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SWIFT

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(Re)financing

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D. Trade and customs

Export-related restrictions

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Customs related matters

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Gas imports

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Luxury goods

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Maritime safety

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Financial assistance

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Technical assistance

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Donetsk and Luhansk oblasts

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E. Other fields

Aviation

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Energy sector

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Media

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Access to EU ports

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Road transport

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Humanitarian aid

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Intellectual property rights

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State-owned enterprises

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Public procurement

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