EU includes Unibank in new Russia sanctions list

PanARMENIAN.Net - The European Union’s latest package of sanctions against Russia, its 20th to date, includes Armenia-based Unibank as one of the entities proposed for restrictive measures. The inclusion is part of a broader effort by Brussels to limit Russia’s revenue and military capacity amid the ongoing war in Ukraine, now entering its fourth year.

According to documents obtained by RFE/RL, the EU's Foreign Affairs Council has drafted a sanctions list that includes 103 individuals and organizations, among them Unibank, founded in Armenia in 2001, and Azerbaijan’s Yelo Bank.

If adopted in its current form, the sanctions package will prohibit these banks from conducting financial operations within the EU, and their assets within EU jurisdiction will be frozen.

The proposed package has already been discussed among EU member states, with final approval expected in the coming days, just ahead of the fifth anniversary of Russia’s full-scale invasion of Ukraine.

European Commission President Ursula von der Leyen stated that for the first time, the EU will also activate anti-circumvention mechanisms, banning the export and supply of digital control systems and radio equipment where there's a high risk of re-export to Russia.

Updated: On February 18, it became clear that at the final stage of discussions, Armenia’s Unibank was removed from the European Union’s sanctions list against Russia.