This is a quick recap for the EU sanctions:
EU adopted the first package of new sanctions on February 23rd, 2022 further to Russia’s recognition of the Donetsk and Luhansk’s People Republics as independent states.
1- It froze the assets of 351 members of the Russian State Duma, individuals, entities, banks, and senior military officers;
2- It restricted the trade with the Donetsk and Luhansk regions, banning the imports of goods, export for certain goods and technologies, tourism services;
3- It prohibited Russia to access the EU capital and financial markets.
On 25 February 2022, the EU imposed broad sanctions targeting the Russian aviation sector. It imposed a full ban on export of dual-use items, as well as restrictions on supply of various strategic goods and services, including semiconductors, aircraft, and items used in the oil refinery and high-tech sectors. Also, EU added President Putin and Foreign Minister Lavrov to their asset freeze list.
On 28 February 2022, the EU adopted its third package of sanctions, imposing asset freezes on various Russian businesspersons active in the oil, banking and finance sectors, while closing off the EU’s airspace for Russian air carriers and preventing Russia’s Central Bank from accessing its foreign reserves in the EU.
On March 1, 2022 EU ambassadors agreed to ban seven Russian banks from using SWIFT financial messaging system.
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