Timeline of EU US and G7 sanctions against Russia

Already in 2014, as the invasion of Ukraine unfolded, the Obama administration considered EU support for sanctions to be pivotal, due to the bloc’s more extensive trade and investment ties with Russia. From the start of the armed conflict in 2022, US sanctions have been coordinated with those of the European Union on the basis of the rules established in the EU-US Trade and Technology Council (TTC). Coordination under the TTC is also useful in controlling any mutual damage that may arise from the sanctions imposed. The majority of observers share the view that the war in Ukraine has strengthened and revitalised transatlantic relations, bringing more unity in the face of the common threat and making the ongoing cooperation on sanctions a tangible expression of EU-US solidarity.
Indeed, many of the EU sanctions are either identical or similar to US sanctions. However, while the sanctions launched by the partners have come in coordinated waves, there are some differences. To start with, the context for both sides is different, as the EU is more fully exposed to Russia in terms of trade, energy supply and investment. For example, the US placed an outright ban on all new investment in Russia, whereas the EU ban in this respect only covers the mining, quarrying and energy sectors. The US has also prohibited all coal, LNG, and oil imports, while the EU still imports Russian gas and LNG, although in progressively diminishing volumes. While the export controls and sectoral sanctions overlap significantly, targeting technologies and key companies in the financial, defence, and energy sectors, the EU and the US lists of designated individuals and entities are not identical. Notably, the EU sanctions many more entities that are relevant to the war (see Figure 1).