On July 22nd, 2024 the Council of the European Union has decided to renew, once more, the economic sanctions imposed against Russia for six months, until January 31st, 2025, due to the fact that, according to the Council, the Russian Federation continues destabilising the situation in Ukraine. These sanctions were first introduced in 2014 with the adoption of the Decision 2014/514/CFSP.
The imposed restrictive measures are mainly focused on a ban on crude and petroleum products trade from Russia, a blockade on certain Russian banks and a suspension on broadcasting Russian media
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