EU Agrees on New Heavy Sanctions Package Against Russia

brussels - Diplomatic sources confirm import ban on Russian aluminum and blacklisting of 73 more ships in the EU.

EU Ambassadors Reach Agreement on New Sanctions

The 27 EU countries' ambassadors have reached a preliminary agreement on new measures. This marks the sixteenth time the EU has imposed sanctions in response to the large-scale invasion of Ukraine.

Once again, the EU focuses on the Russian shadow fleet. Moscow utilizes these often old ships to circumvent sanctions on Russian oil exports. However, with the US, UK, and EU increasingly targeting ships from this fleet with sanctions, Russia's avenues to finance the costly war in Ukraine through this route are further limited. Blacklisted ships face challenges in obtaining insurance and accessing international ports.

In addition to the shadow fleet, the EU plans to exclude over ten Russian banks from the international payment system Swift. Details on the import ban on Russian aluminum are pending. The bloc also aims to blacklist an additional 48 individuals and 35 entities, freezing their assets in Europe and imposing travel bans.

Next Monday, EU foreign ministers will make a final decision on the sixteenth sanctions package. Only then will all details of the punitive measures be disclosed.

Washington has urged Brussels to continue imposing sanctions on Russia to increase pressure on Russian autocrat Vladimir Putin during negotiations on the future of Ukraine. The US advocates for severe energy-related sanctions, but the EU seems hesitant to move towards reducing the import of liquefied natural gas (LNG) from Russia.