Effectiveness of EU Sanctions on Russia

Summary

This motion evaluates the effectiveness of EU sanctions on Russia and calls for stronger measures to prevent circumvention and close loopholes in the energy and technology sectors.
9 09.11.2023
Other
energy
economy
finance
justice
human rights
european union
international relations
public finance and budget policy

Key points

  • The resolution reviews the impact of 11 consecutive EU sanction packages aimed at weakening Russia's economic and military base.
  • There is deep concern regarding companies using special exemptions to continue business with sanctioned Russian entities.
  • Russia is successfully bypassing oil price caps by redirecting exports to countries like India and China, creating a backdoor for Russian oil into the EU.
  • The motion calls for expanding sanctions to include the Russian nuclear energy sector and major financial institutions like Gazprombank.
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