EU: European Council prolongs frameworks for restrictive measures

We report an update on recent EU decisions on expiring sanctions programs and third countries that have decided to align with EU sanctions programs.

Ukraine

On March 12, 2024, the European Council, through Council Decision (CFSP) 2024/847, decided to prolong the restrictive measures targeting those responsible for undermining or threatening the territorial integrity, sovereignty and independence of Ukraine for another six months, until 15 September 2024.

After 24 February 2022, in response to Russia’s military aggression against Ukraine, the EU massively expanded sanctions against Russia with the aim of weakening Russia’s economic base, depriving it of critical technologies and markets, and significantly curtailing its ability to wage war.

The existing restrictive measures provide for travel restrictions for natural persons, the freezing of assets, and a ban on making funds or other economic resources available to the listed individuals and entities. Sanctions will continue to apply to over 2100 individuals and entities, many of which are targeted in response to Russia’s ongoing unjustified and unprovoked military aggression against Ukraine. As part of the sanctions review, the Council also decided to remove 12 persons (legal and natural) from the lists.

Bosnia and Herzegovina

On March 25, 2024, through Decision (EU) 2024/955, the European Council decided to extend the framework for restrictive measures in view of the situation in Bosnia and Herzegovina for another two years, until 31 March 2026.