The Commission welcomes the Council’s adoption of an 11th package of sanctions against Russia. This package will ensure that EU sanctions against Russia are even better enforced and implemented, based on the lessons learned from implementation over the past year.
The EU’s sanctions have limited Moscow’s political and economic options considerably, by causing major financial strain, degrading Russia’s industrial and technological capacity. They are fulfilling their three key objectives: degrade Russia’s military capability to wage its war of aggression against Ukraine, deprive the Kremlin from the revenues it is financing the war with, and impose costs on Russia’s economy. Sanctions are having an impact on all three. Their effects grow over time as the sanctions erode Russia’s industrial and tech base.
A press release is available online. Questions and answers will be available later today.
