EU Reaction to Russia's Military Invasion of Ukraine

On 24-25 February, an extraordinary summit of the European Council (EUCO) took place in Brussels to discuss the EU response to the invasion of Ukraine by Russian forces. The EU has adopted strong economic sanctions that will reduce Russia's financial reserves in the long term. However, they wou...

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Bibliographic Details
Published in:Policy File 2022
Main Authors: Kaca, Elzbieta, Koziol, Aleksandra
Format: Report
Language:English
Subjects:
Conflicts
The Polish Institute of International Affairs
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Summary:On 24-25 February, an extraordinary summit of the European Council (EUCO) took place in Brussels to discuss the EU response to the invasion of Ukraine by Russian forces. The EU has adopted strong economic sanctions that will reduce Russia's financial reserves in the long term. However, they would be more effective if the EU decided to cut off Russian banks immediately from the SWIFT system, a global channel of encrypted communication between financial institutions. This is still an open issue for negotiation between the Member States.