EU and US Impose Comprehensive Sectoral Sanctions on Russia

Following the downing of Malaysia Airlines Flight MH17 over eastern Ukraine, the European Union and United States imposed comprehensive sectoral sanctions targeting Russian financial, energy, and defense sectors. These sanctions represented a significant diplomatic and economic escalation, restricting access to EU and US capital markets for major Russian banks and energy companies while prohibiting export of dual-use technologies. Academic research reveals these sanctions transformed previous ineffective diplomatic pressure into concrete multilateral action, marking a crucial turning point in Western response to Russian actions in Ukraine. The sanctions targeted specific Russian financial institutions including Sberbank, VEB, Gazprombank, and major energy companies like Rosneft, effectively limiting their access to international financial markets.