Global Trade Alert
Global Trade Alert

EU: Adoption of new trade, financial and sectoral sanctions against Russia (June 2022)

Announcement

03 Jun 2022

In June 2022, the European Union adopted new trade, financial and sectoral sanctions against Russia in the context of its invasion of Ukraine. The measure includes an import ban on Russian oil, the exclusion of 3 more Russian banks from the SWIFT payment system, and the suspension of broadcasting activities of 3 more Russian agencies.

 

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Number of interventions

3

3 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

14 Jun 2022

Revocation date:

No revocation date

Announced: 03 Jun 2022
Controls on commercial transactions and investment instruments In force
On 3 June 2022, the European Union adopted Council Regulation (EU) 2022/879 prohibiting the provision of specialised financial messaging services used to exchange financial data to the following 3 Rus...
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Implementation date

04 Jun 2022

Revocation date:

No revocation date

Clarification: 23 Apr 2026
Export ban In force

Recent update from 23 Apr 2026:

On 23 April 2026, the European Union adopted Council Regulation (EU) 2026/506, imposing an importation quota on Russian ammonia (CN code 2814) (see related state act). The measure enters into force...

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Announced: 03 Jun 2022
Import ban In force
On 3 June 2022, the European Union adopted Council Regulation (EU) 2022/879 prohibiting the import of Russian oil and suspending the broadcasting activities of 3 new Russian state-owned media outlets ...
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