After the G7 summit decided on new sanctions against Russia together with the USA, the EU states have agreed to extend their sanctions. For the first time, the heads of state and government of the member states at their June summit in Brussels extended the economic sanctions against Russia not just by six months, but by twelve months, as a spokesperson for Council President António Costa announced.
In recent years, former Hungarian Prime Minister Viktor Orbán had always blocked a one-year extension. The new Prime Minister Péter Magyar is considered significantly more critical of Russia than his predecessor, who maintained close ties with Kremlin chief Vladimir Putin.
Russia sanctions: EU seeks to isolate Putin economically
The EU's economic sanctions against Russia due to the war of aggression against Ukraine include, in particular, restrictions on trade, finance, the energy sector, industry, transport, and luxury goods. This includes, for example, a ban on imports of Russian crude oil by sea, and numerous Russian banks have been disconnected from the Swift financial communication system.
The legal text for the extension of sanctions is to be adopted by the Council of Ministers in the coming weeks. This is considered a formality.
EU plans new sanctions
In a summit declaration on the Ukraine war, it says the European Union remains determined "to further increase pressure on Russia and to further weaken the Russian war economy so that Russia ends its brutal war of aggression and enters serious peace negotiations." This is to include further steps to reduce Russian energy revenues, curb the activities of the Russian shadow fleet, and further restrict the Russian banking system.
For the first time since December 2024, all 27 member states agreed to the declarations on Ukraine. This was also made possible by Orbán's removal from office.
