Kaja Kallas, the European Union’s High Representative for Foreign Affairs, predicts that the sanctions imposed on Russia due to its aggression in Ukraine will have an even more powerful impact on the Russian economy in the coming months. According to her, new data indicates that Russia is already beginning to feel the effects of these restrictions.

At the Foreign Affairs Council meeting held in Brussels, Kallas noted that the Russian economy has reached a critical stage where it must rely on supply chains. This, she said, indicates that the impact of the sanctions will intensify.

Today, the foreign ministers of EU countries will gather to discuss the 17th package of sanctions, which will also include Ukrainian Minister Andriy Sybyha. They also plan to discuss preparations for the next set of restrictions.

Kallas emphasized that the European Commission intends to include price caps on oil, as well as measures related to the energy and banking sectors, in the new sanctions package.

She also refuted Russian claims that the sanctions harm Europe more than Russia. “We have data confirming that the situation in Russia is not as good as they claim,” she said, highlighting the strength of Russian propaganda.

On May 14, EU ambassadors approved the 17th package of sanctions against Russia, marking another step in the international community’s efforts to isolate Moscow.

Sanctions after the invasion of Ukraine

Following Russia’s full-scale invasion of Ukraine in February 2022, the global community imposed unprecedented sanctions aimed at isolating Russia and undermining its economy. These measures are intended to force Russia to cease its aggressive actions.

The main types of sanctions include:

  • Economic: trade restrictions, bans on the export and import of certain goods and services;
  • Financial: freezing assets of Russian banks and individuals, restricting access to the international financial system;
  • Political: diplomatic boycotts, exclusion from international organizations;
  • Technological: restrictions on access to advanced technologies necessary for industrial development;
  • Energy: restrictions on the export of energy resources from Russia.

To date, the European Union has already implemented 17 packages of sanctions against Russia and its allies, demonstrating the international community’s determination to combat aggression.