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1 1 (May 15, 2023)

handle is hein.crs/govelps0001 and id is 1 raw text is: Congressional ____ R ftfesearch Service Russia's War Against Ukraine: European Union Responses and U.S.-EU Relations Updated May 15, 2023 The 27-member European Union (EU) has implemented a wide range of policy responses to Russia's war against Ukraine, launched in 2022. EU actions and coordination with the United States are of interest to Congress given the EU's role as an important U.S. partner. (Also see CRS In Focus IF 12277, Russia's War on Ukraine: U.S. Policy and the Role of Congress.) Key EU Responses Sanctions The EU has imposed 10 packages of sanctions-or restrictive measures-intended to cripple Russia's ability to finance the war against Ukraine, enact costs on Russia's elites, and diminish Russia's economic base. Imposing sanctions requires unanimity among EU members. To date, EU sanctions on Russia's government and financial, business, defense, technology, and media sectors include Freezing the assets of 207 entities (including key banks) and 1,473 individuals (primarily Russian officials and elites), to whom travel bans also apply. Imposing debt and equity restrictions on certain banks and companies. Restricting transactions with Russia's central bank and blocking access to its reserve holdings. Banning transactions with certain Russian state-owned military-industrial enterprises. Disconnecting 10 leading Russian financial institutions-including Sberbank, Russia's largest bank-from SWIFT (the world's dominant international financial messaging system). Broadening export controls on dual-use goods and technologies. Banning certain exports in the aviation, maritime, and technology sectors (e.g., semiconductors) and the export of drone engines and luxury goods to Russia. Congressional Research Service https://crsreports.congress.gov IN11897 CRS INSIGHT Prepared for Members and Committees of Congress