On June 18, the European Union is set to approve an extension of sectoral sanctions against Russia for a duration of one year, a shift from the previous six-month renewals.
This information was reported by Rikard Jozwiak, a correspondent for Radio Free Europe, citing his statements on social media platform X (formerly Twitter).
Jozwiak noted, “The idea is that EU leaders will agree to extend the anti-Russian sanctions for 12 months instead of the usual six. It appears that Slovakia and Hungary have no objections. The formal extension will take place later this summer for the first time.”
The latest sanctions package, referred to as the 21st package, primarily targets the energy sector, which is crucial for financing Russia’s military actions in Ukraine.
The European Commission unveiled the 21st package of sanctions against Russia on June 9.
This new set of measures includes restrictions on Russian energy, banking, trade, and fishing companies, as well as limitations on financial services and cryptocurrencies.
Additionally, the EU continues to implement measures against Russia’s “shadow fleet.”
Furthermore, the European Commission aims to prohibit entry for former Russian combatants into the European Union.
The 21st sanctions package must now be reviewed and unanimously approved by the EU Council.
The European Union plans to extend its sanctions against Russia for one year, focusing on the energy sector. This decision marks a significant shift in the EU's approach to sanctions, aiming to strengthen economic pressure on Russia amid ongoing military actions in Ukraine.