The EU named the reasons for the lack of effectiveness of sanctions against Russia

Members of the European Parliament believe that sanctions against RUSSIA do not work as effectively due to insufficient severity: it is necessary to tighten penalties for violating restrictions for European companies. Moscow considers sanctions illegal

The sanctions imposed by the European Union against Russia are working, but Moscow “still receives too much” from Europe, and the effect is not so strong, including due to violations of the sanctions regime, Andrius Kubilius, a member of the European Parliament from Lithuania and a member of the European People’s Party, told Euronews.

According to him, exports of dual-use products to non- EU countries increased in the same volume equal to the supply of these products to Russia, which were subject to Brussels sanctions.

In addition to convincing third countries “not to participate in this event,” it is also necessary to put pressure on European companies, Kubilius believes. “If suddenly your iPhone sales in Kyrgyzstan increase 10 times, 100 times, you need to ask yourself what’s behind it,” he added.

Euronews, citing a 2021 document from the EU criminal justice agency Eurojust, notes that the maximum fine for violating nationally imposed and enforceable sanctions in Estonia, for example, is €1,200, while in Spain it is not a crime at all.

Member of the European Parliament from the Netherlands, member of the European Renewal party, Sophie Intveld, in turn, advocates toughening penalties for violating the sanctions regime in all EU countries. “You can debate whether the maximum prison sentence should be three years or five years, but it doesn't really matter,” she said. “It is important that this is the same in all member states.”

Another round of negotiations to finalize the new laws is due to take place later this month, and Intveld says she is “confident” she can find an agreement with officials who sit on the European Council.

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The Russian side considers the imposed sanctions illegal. The authorities have repeatedly said that Russia has withstood the “onslaught of sanctions” and the country’s economy has recovered. Presidential press secretary Dmitry Peskov said that in Russia there was a threat of economic collapse due to sanctions, but thanks to the mobilization of resources and decisions of the country's leadership, the economic situation was stabilized.

He summed up Russia's response to sanctions with a proverb: “We, as always, managed to make sure we benefit from the sanctions. Until the thunder strikes, the man will not cross himself. Then the thunder struck, we took it and crossed ourselves. We will continue to be baptized.”

In 2022, according to Rosstat, the country's real GDP fell by 2.1%. In September 2023, Russian President Vladimir Putin said that GDP had reached the pre-sanction level of 2021. According to the president, by the end of this year the growth rate will be more than 3%. The HEAD of the Ministry of Economic Development, Maxim Reshetnikov, expects growth at 2.8%.

International organizations have also improved their GDP forecasts for Russia. The European Commission's forecast, adjusted in November, assumes growth of the Russian economy at 2% instead of a decline of 0.9%. Analysts at the International Monetary Fund ( IMF ) expect Russia's GDP to grow by 2.2% in 2023.