In early 2022, the European Union (EU) was quick and decisive in imposing an unprecedented set of measures against Russia. Among other things, the EU targeted the Russian Central Bank, which is an extraordinary move, given that central banks are rarely on sanctions lists. Reconciling the interests of 27 Member States is an art itself, especially in a highly sensitive policy area which continues to be dominated by individual Member State interests. Overall, the swiftness of EU measures went beyond most of our expectations. Continue reading >>
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