The European Union has introduced a new set of measures against Russia due to the ongoing war in Ukraine. This is the fifteenth sanctions package since the conflict began in February 2022.
European Commission President Ursula von der Leyen stated that the package targets Russia’s so-called “shadow fleet.” Due to the EU ban on Russian oil and gas, Russia uses numerous ships without clear registrations or flags to transport these resources, bypassing sanctions. These vessels often proceed to non-sanctioning countries like India and China.
The ships are frequently in poor condition, posing significant financial and environmental risks to Baltic Sea countries. The EU aims to identify and locate ships lacking valid documentation in European waters, alongside investigating ownership and shipping companies.
The measures also target companies, banks, and organizations supporting Russian military technology. Over 2,300 individuals and entities have been sanctioned since the February 2022 invasion, with sanctions focusing on the oil industry, banking sector, and mineral companies, including the largest diamond miner.
Many Russian assets and bank accounts have been seized, and approximately 260 billion euros of the Russian Central Bank’s reserves have been frozen. Interest from these funds is used for weapons and humanitarian aid for Ukraine.
Source: NOS