Calendar of sanctions imposed on Russia

• February 23, 2022

- The EU Council adopts the first package of sanctions against Russia, in response to the Russian Federation's decision to recognize the non-government-controlled areas of Ukraine's Donetsk and Luhansk regions as independent entities and the subsequent decision to send Russian troops to these areas.

The package contains specific sanctions against the 351 members of the State Duma of Russia and 27 other persons; restrictions imposed on economic relations with non-government-controlled areas of Donetsk and Luhansk regions; restrictions on Russia's access to capital markets and EU financial markets and services.

• February 24, 2022

- EU leaders, gathered in a special summit convened following the launch of Russia's aggression against Ukraine, agree on additional sanctions, which concern the financial sector; the energy and transport sectors; dual-use products; export control and financing; visa policy; additional sanctions against some Russian citizens; new listing criteria.

- The USA issues correspondence and payment sanctions through the account of Sberbank and its subsidiaries; sanctions against VTB Bank, Otkritie Financial Corp. Bank, Sovcombank and Novikombank and their subsidiaries, freezing their US assets and prohibiting transactions with them; new debt and equity restrictions for Sberbank, Alfa-Bank, Credit Bank of Moscow, Gazprombank, Russian Agricultural Bank and other Russian companies.

- The US imposes export controls on software, equipment and technology.

• February 25, 2022

- The EU adopts the second package of sanctions, deciding to freeze the assets of Vladimir Putin, the president of the Russian Federation, and of Sergei Lavrov, the foreign minister. In addition, the EU imposes restrictive measures on members of the National Security Council of the Russian Federation and other members of the Russian State Duma who supported Russia's immediate recognition of the two self-proclaimed "republics" of Donetsk and Luhansk. The Council also agrees on a new package of individual and economic measures, with sanctions targeting the finance, energy, transport and technology sectors, as well as visa policy.

- The US sanctions Russian President Vladimir Putin and Foreign Minister Sergei Lavrov.

• February 28, 2022

- The EU adopts the third package of sanctions, among the new measures are: the prohibition of transactions with the central bank of Russia; a support package worth 500 million euros for the financing of equipment and materials intended for the Ukrainian armed forces; the prohibition of flying over EU airspace and the access of Russian carriers to EU airports; new sanctions targeting 26 more people and an entity.

- The USA blocks transactions with the central bank of Russia.

• March 2, 2022

- Seven Russian banks are excluded from SWIFT, respectively disconnected from the international financial system. These are Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, Vnesheconombank (VEB) and VTB Bank. The EU also introduces a ban on investing in, participating in or otherwise contributing to future projects co-financed by Russia's Direct Investment Fund; the sale, supply, transfer or export of euro banknotes to Russia or to any natural or legal person or entity in Russia. The suspension of the broadcasting activities in the EU of the media channels Sputnik and Russia Today, which are under the control of the authorities of the Russian Federation, is approved.

• March 3, 2022

- The EU Council extends for one more year, until March 6, 2023, the measures to freeze assets directed against persons identified as responsible for the embezzlement of Ukrainian state funds or for abuse of office with the detriment of Ukrainian public funds.

• March 8, 2022

- The US bans imports of Russian oil, gas and other energy products.

• March 9, 2022

- The EU decides on additional restrictive measures regarding the export of maritime navigation products and radio communication technology to Russia.

• March 10, 2022

- The EU extends for another six months the sanctions related to territorial integrity: travel restrictions, freezing of assets and the ban on making funds or other economic resources available to the persons and entities included in the list. Sanctions will continue to apply to a number of 862 individuals and 53 entities in Russia.

• March 15, 2022

- The EU imposes the fourth package of economic and individual sanctions, the new measures including a ban on all transactions with certain state-owned enterprises; providing credit rating services to any Russian person or entity; new investments in the Russian energy sector.

- The EU Council expands the list of people linked to Russia's industrial and defense base who have been subject to tougher export restrictions on dual-use items and products and technology that could contribute to technological consolidation by Russia of its defense and security sector. The EU also introduces trade restrictions on iron, steel and luxury goods, sanctions on 15 more people and 9 entities.

• March 24, 2022

- The US sanctions the Russian defense industry, the Russian Duma and the management of Sberbank.

• March 31, 2022

- The US imposes new sanctions targeting Russia's technology sector and related efforts to evade or circumvent sanctions.

• April 6, 2022

- The US announces sanctions against Sberbank and Alfa-Bank, freezing the assets of the two banks, and forbidding US persons to do business with them. The US also prohibits new investments in Russia and imposes sanctions to completely block key companies owned by the Russian state. They impose sanctions on high-ranking Russian officials and their family members, including the adult children of President Putin and the wife and daughter of Foreign Minister Sergei Lavrov.

• April 7, 2022

- The US sanctions the Russian diamond giant PJSC Alrosa-Nyurba, freezing all its properties and interests in the US.

• April 8, 2022

- The EU establishes the fifth package of sanctions, which includes bans on imports from Russia of coal and other solid fossil fuels; access of all Russian ships to EU ports; entry into the EU of Russian and Belarusian road transport operators; imports of other goods, such as wood, cement, seafood and alcoholic beverages; exports to Russia of jet fuel and other goods; deposits in crypto-wallets. Also, the EU adopts sanctions against 217 persons and 18 entities. Among them is the total ban on transactions for four major banks in Russia, representing a market share of 23% of the Russian banking sector.

• May 8, 2022

- The US announces new sanctions against Russia, targeting members of the executive board of Sberbank and members of the board of directors of Gazprombank. The new sanctions also target JSC Bank Moscow Industrial Bank. In addition, three of Russia's most important state-owned and/or controlled television networks were added to the sanctions list: JSC Channel One Russia, Russia-1 and JSC NTV Broadcasting Co.

• June 3, 2022

- The EU decides on the sixth package of sanctions, which includes: a ban on imports of crude oil and refined petroleum products from Russia, with a series of limited exceptions; a SWIFT ban for three more Russian banks and one Belarusian bank; the suspension of broadcasting in the EU of three more state-owned Russian media channels. Also, the EU adopts sanctions against an additional number of 65 persons and 18 entities.

• June 27, 2022

- The G7 countries ban gold imports from Russia.

• June 28, 2022

- The US sanctions 70 entities, many of which are linked to Russia's defense industry, including Rostec, as well as 29 individuals. The US announces visa restrictions, including for 500 military officers and officials of the Russian Federation.

• July 21, 2022

- The EU decides on the package of "maintenance and alignment" sanctions, aimed at tightening the existing economic sanctions against Russia, perfecting their implementation and strengthening their effectiveness. The package introduces a new ban on buying, importing or transferring gold of Russian origin, including jewelry; strengthen the control of exports of dual-use products; extend the existing ban on port access to the locks; clarifies existing measures, for example in the field of public procurement, aviation and justice; imposes sanctions on an additional 54 individuals and 10 entities, including the mayor of Moscow and Sberbank, a major financial institution. The new measures, like previous sanctions, do not target Russia's exports of food, grain or fertilizers.

• July 26, 2022

- The EU extends the economic sanctions for another six months, until January 31, 2023. The sanctions consist of restrictions on finance, energy, technology, dual-use products, industry, transport, luxury products.

• September 30, 2022

- The US imposes sanctions on 14 people linked to Russia's military-industrial complex and 278 members of the Russian legislature involved in the referendums organized in Ukraine. The governor of the Russian central bank, Elvira Nabiullina, is among the sanctioned persons.

• October 6, 2022

- The EU decides on the eighth package of sanctions, the new sanctions including, among others: a price ceiling related to the maritime transport of Russian oil destined for third countries; additions to the list of restricted products that can contribute to Russia's military and technological consolidation; additional restrictions on trade and services with Russia; the addition of another 30 persons and 7 entities to the list.

• December 2, 2022

- The G7 and Australia agree to cap the price of Russian crude oil at 60 dollars per barrel.

• December 3, 2022

- The EU agrees on a price ceiling of 60 dollars per barrel of crude oil, petroleum oils and oils obtained from bituminous minerals that originate in or are exported from Russia.

• December 15, 2022

- The USA imposes sanctions on the Russian businessman Vladimir Potanin, three members of his family and his company, Interros Co. The new sanctions also target Russian lender PJSC Rosbank, which Potanin acquired in early 2022, and 17 subsidiaries of VTB Bank PJSC.

• December 16, 2022

- The EU establishes the ninth package of sanctions, measures including bans on the export of drone engines; exports of dual-use products and technologies; investments in the mining sector; transactions with the Russian Regional Development Bank; providing advertising, market research and public opinion polling services. The EU also suspends the broadcasting licenses of four other Russian media channels and sanctions another 141 individuals and 49 entities.

• January 27, 2023

- The EU extends the sanctions by six months, until July 31, 2023.

• February 4, 2023

- The EU agrees on the level of price ceilings for oil products from Russia. It is about the price per barrel at or below which oil products in Russia benefit from the exemption from the prohibition to provide: maritime transport services of oil products to third countries and technical assistance, brokerage or financing services or financial assistance in connection with maritime transport of petroleum products to third countries.

The tariff ceiling for oil products: traded below the nominal value of crude oil is set at 45 dollars per barrel; traded above the nominal value of crude oil is set at 100 dollars per barrel.

• February 24, 2023

- The US Treasury announces new sanctions targeting the Russian Federation's metals and mining sector and also imposes sanctions on 22 individuals and 83 entities.

February 25, 2023

- The EU adopts the tenth package of sanctions, which involves the prohibition of exports of critical technologies and industrial products; prohibition of asphalt and synthetic rubber imports; prohibiting the supply of gas storage capacity to the Russians; suspension of the broadcast licenses of RT Arabic and Sputnik Arabic; restrictions imposed on Russian nationals to hold any position within the governing bodies of critical EU infrastructures and entities; reporting obligations to ensure the effectiveness of sanctions; additional sanctions against 87 persons and 34 entities.

• June 23, 2023

- The EU adopts the 11th package of sanctions: strengthening bilateral and multilateral cooperation with third countries to prevent the evasion of sanctions; banning the transit of even more products and technologies on Russian territory; stricter export restrictions on dual-use products and technologies; suspension of extended broadcasting licenses for five new media channels: RT Balkan, Oriental Review, Tsargrad, New Eastern Outlook and Katehon; the ban on road transport of goods in the EU extended to trailers and semi-trailers registered in Russia; prohibiting access to ports and locks on the territory of the EU of any ships making transfers from one ship to another; additional sanctions against 71 persons and 33 entities.

• August 11, 2023

- The US Treasury Department's Office of Foreign Assets Control issues a new round of sanctions targeting prominent members of Russia's financial elite as well as a Russian business association.

• December 18, 2023

- The EU establishes the 12th package of sanctions, which includes the following measures: prohibition of the import, purchase or direct or indirect transfer of diamonds, including jewelry, from Russia; the "no Russia" clause (a new clause that applies to EU exporters and prohibits re-export to Russia and re-export for use in Russia of certain products); strengthening bilateral and multilateral cooperation with third countries to prevent the evasion of sanctions; stricter export restrictions on dual-use products and technologies; ensuring compliance with the oil price ceiling; additional restrictions on imports of products that generate significant income for Russia, such as pig iron, copper wire, aluminum wire, foil, tube and pipe; banning the import of liquefied propane.

• February 23, 2024

- The EU imposes restrictive measures on another 106 people and 88 entities. The EU Council also adds 27 new entities to the list of those directly supporting Russia's military and industrial complex in its war of aggression against Ukraine, including entities located in third countries and involved in circumventing trade restrictions. The EU introduces additional restrictions on unmanned aerial vehicles (drones) and exports of goods that contribute, in particular, to the improvement of Russian industrial capabilities.

- The United States imposes more than 500 new sanctions on Russia - the largest tranche of penalties since the outbreak of war between Moscow and Ukraine.