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PLENITUDE INSIGHTS: Ukraine Crisis and New Russia Sanctions

Written by Alan Paterson | Mar 1, 2022 2:22:00 PM

Following the Russian invasion of Ukraine on 21 February 2022, the EU, UK and US together with other States, imposed an initial package of sanctions against Russia and the occupied territories in Ukraine. The measures have been broadly viewed as insufficient to deter Russia, sparking widespread international criticism from the press, public and some politicians.

On 23 February 2022, the EU Council agreed on a further tranche of measures in response to Russia’s decision to recognise the non-government controlled areas of Donetsk and Luhansk Oblasts in Ukraine as independent entities, and the ensuing decision to send Russian troops into these areas. 

On 25 February, the EU decided to freeze the assets of Vladimir Putin, President of the Russian Federation, and Sergey Lavrov, Minister of Foreign Affairs. In addition, the EU has imposed restrictive measures on members of the National Security Council of the Russian Federation and on the remaining members of the Russian State Duma who supported Russia’s immediate recognition of the self-proclaimed Donetsk and Luhansk ”republics”.

The Council has also agreed on a further package of individual and economic measures to respond to the unprovoked and unjustified military aggression carried out by the Russian Federation against Ukraine. These sanctions cover the finance, energy, transport and technology sectors, as well as visa policy.