EU Sanctions Against the Russian Federation and Their Implications for the Foreign Trade of the Czech Republic

Abstract

Modern European integration entails the common foreign and security policy. In February 2022, the Russian aggression against Ukraine moved the deplorable situation from 2014 to another level calling for an EU reaction via legal instruments. Based on them, ten sanctions packages have emerged with significant consequences. The aim of this paper is to analyze it, in particular the connection of these ten sanctions packages and foreign trade between the Czech Republic and the Russian Federation. This aim is achieved by addressing three sets of goals: (i) the legal analysis of EU trade policy instruments, (ii) an advanced statistical and critical analysis of the trade between Czech Republic and Russian Federation and (iii) a creation of a timeline of the application and its ramifications. This reveals interesting propositions about the impact of these sanctions packages on the Czech foreign trade and about the effectiveness of the EU´s trade policy.