EU Preparing 21st Sanctions Package Against Russia
The European Union is preparing its 21st sanctions package against Russia, which may be presented at the end of June or the beginning of July. According to Politico, citing European diplomats, the new package will target key areas, including the shadow fleet of tankers used by Russia to export oil circumventing sanctions.
Among the main targets are the network of tankers that make up the shadow fleet, which has been a significant concern for international authorities. The EU is also expected to impose sanctions on Russian banks, financial institutions, defense industry enterprises, and companies involved in selling stolen Ukrainian grain.
Sanctions Against Russian Banks and Financial Institutions
The new package will likely include measures aimed at restricting the ability of Russian banks and financial institutions to operate within the EU. This could involve freezing assets, imposing travel bans, or limiting access to European financial markets. The goal is to further isolate Russia‘s economy and limit its ability to circumvent international sanctions.
Maritime Services Ban for Russian Vessels
According to sources speaking to Politico, the European Commission may also revisit the idea of banning maritime services for Russian vessels. This initiative was previously blocked by Malta and Greece, but with the changing political landscape in Europe, there is renewed momentum behind this proposal.
Pressure on Russia Must Not Be Relaxed
The EU believes that now is the best moment to step up pressure on Russia, as its economy is in its worst state since the start of the war due to a static inflation shock. European Commission Vice-President Valdis Dombrovskis emphasized that pressure on Russia must not be relaxed at this critical juncture.
Sanctions Against Individuals Involved in Abduction of Ukrainian Children
Alongside preparing the 21st package, the EU is working on sanctions against individuals involved in the abduction of Ukrainian children. This move follows a decree signed by Ukrainian President Volodymyr Zelenskyy at the end of April, which introduced sanctions against Lukashenko’s sons, his close associate Viktor Sheiman, as well as Belarusian enterprises that assist Russian forces.
The EU’s continued efforts to impose sanctions on Russia demonstrate its commitment to maintaining pressure on the Russian government and limiting its ability to circumvent international restrictions. As the situation continues to evolve, it remains to be seen how these new measures will impact the global economy and Russia’s response to the ongoing crisis.
Original Article: EU prepares 21st sanctions package against Russia. Shadow fleet and banks in focus — details — Ain