He stressed that since the beginning of the invasion of Ukraine, the EU has already introduced 11 packages of sanctions against Russia. In addition, the European Union imposed a travel ban and an asset freeze on more than 1,500 people and almost 250 organizations from Russia.
“To stop the war, we need to stay on course,” Borrell said.
According to him, the Russian economy shrank by 2.1% last year. In particular, the production of cars decreased by 48% compared to the same period last year, other transport equipment – by 13%, the production of computers, electronics and optics – by 8%.
In addition, retail trade in Russia fell by 10%, and wholesale – by 17%.
Borrell noted that compared to 2021, 58% of the total EU imports from Russia were already stopped in 2022: imports of energy products decreased by almost 60%, in particular, iron, steel, precious metals and timber fell significantly. For the first quarter of 2023, this figure is more than 75%, while imports of energy goods decreased by 80%.
The total export of EU goods, according to the chief EU diplomat, was 52% below the annual average before the start of the invasion in 2022. At the same time, exports of European dual-use goods and advanced technology needed by Russia to produce weapons for the war against Ukraine fell by 78% in 2022 compared to 2019-2021.
According to the International Energy Agency (IEA), Russia’s total oil revenues fell by 27% compared to last year.
EU sanctions against Russia
The EU has been imposing sanctions against Russia for violating the territorial integrity of Ukraine since 2014, when the Kremlin occupied Crimea and parts of the Lugansk and Donetsk regions.
Restrictive measures were significantly expanded after Russia launched a full-scale invasion of Ukraine in 2022. The sanctions include a ban on the import of Russian oil, disconnection of a number of Russian banks from the SWIFT system, as well as a large number of export restrictions.
In total, since the beginning of the full-scale invasion of the invaders in Ukraine, the EU has introduced 11 packages of sanctions.
Recently, the European Union extended economic sanctions against Russia, which were introduced in response to aggression in Ukraine. They will be valid for at least another six months.
Read urgent and important messages about Russia’s war against Ukraine on the channel RBC-Ukraine on Telegram.
2023-08-26 19:09:32
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