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What's in the EU's 20th Package of Sanctions Against Russia?
The package targets Russia’s energy trade, adds one insurer and delists 11 vessels as the bloc seeks to shrink the shadow fleet.
- The European Union released its 20th round of sanctions on Russia, targeting the energy sector with measures against 46 more "shadow fleet" vessels and one insurer.
- Increasing calls to disconnect from Russia's energy sector followed the country's "hybrid warfare" activity in western Europe and war in Ukraine, prompting Sweden and Finland to propose replacing the "price cap" policy with a blanket ban.
- Greece and Malta blocked the proposed shipping ban, arguing it would merely shift oil trade onto "shadow fleet" tankers with opaque ownership; the European Union postponed implementation indefinitely due to unanimous approval requirements.
- The European Union sanctioned the Karimun Oil Terminal in Indonesia for links to the "shadow fleet," marking the first overseas seaport penalty, while delisting 11 vessels to encourage owners to abandon sanctioned trades.
- Future measures aim to prevent second-hand resale of vessels to Russian interests and facilitate scrapping of sanctioned tonnage, targeting the reduction of the "shadow fleet" over time.
23 Articles
23 Articles
Daily Memo: EU Announces New Sanctions on Russia
Expanded list. The European Union approved its 20th round of sanctions against Russia. The package expands restrictions on Russian oil shipments, adding 46 tankers to the sanctions list and banning technical maintenance and a number of other services for Russian tankers and icebreakers. It bans transactions with 20 Russian banks and the provision of cybersecurity […] The post Daily Memo: EU Announces New Sanctions on Russia appeared first on Geo…
EU’s 20th Russia sanction package introduces full crypto ban
The European Union has approved its 20th sanctions package against Russia, targeting more than 120 individuals and entities, including oil companies, refineries, ports, tankers, banks, crypto platforms and a number of public figures.
The EU has decided to wait until the G7 summit to finally approve a major energy ban on Russia. On April 23, the European Union approved the 20th package of sanctions against Russia, but postponed the important step of banning maritime shipments of Russian crude oil and petroleum products. This was reported by RBC-Ukraine, citing Euractiv. Read also: Vlasyuk revealed details of the 20th package of sanctions and announced problems for Kremlin mou…
The EU is expanding sanctions targeting the energy and financial sectors and the shadow navy, and is stepping up efforts to prevent sanctions evasion.
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