EU adopts 15th sanctions package targeting Russia

Source: EU

On Monday, the European Union said it has adopted a new package of sanctions against Russia. The new restrictive measures aim to cut off Russia’s financial and logistical lifelines, particularly in its military-industrial complex and “shadow fleet”.

The new policy cracks down on 52 additional vessels involved in transporting Russian crude oil, stolen Ukrainian grain, or military equipment. Dubbed Putin’s “shadow fleet,” these non-EU tankers have dodged sanctions and oil price caps. The EU’s restrictions now extend the black list to 79 vessels, banning their access to ports and a host of maritime services.

For the first time, the EU has sanctioned companies supplying Russia with critical components like drone parts and microelectronics. This measure witll hit Chinese, Indian, Iranian, Serbian, and UAE entities that helped Russia’s military get microelectronics.

Kaja Kallas, the EU’s High Representative for Foreign Affairs, didn’t mince words:

This package of sanctions is part of our response to weaken Russia’s war machine and those who are enabling this war, also including Chinese companies.

The sanctions also blacklisted 54 individuals and 30 organizations tied to atrocities and logistical support for the war. “The EU is sanctioning the military unit responsible for the striking of the Okhmadyt children hospital in Kyiv, senior managers in leading companies in the energy sector, individuals responsible for children deportation, propaganda and circumvention, as well as two senior DPRK officials,” said the EU in its statement.

In addition, 32 more entities landed on the sanctions list over their indirect support of Russia’s military and industrial. They will be subject to tighter export restrictions concerning dual use goods and technologies.

Among other things, the new sanctions will shield European businesses from Russia’s retaliatory legal actions as the EU has blocked the recognition of rulings from Russian courts that undermine international arbitration norms. In a stern signal to European business communities, the EU called on companies to wind down operations in Russia, though it offered extended deadlines for divestment on a case-by-case basis to ensure a smooth exit.