ISTANBUL
The EU on Friday adopted its 18th package of economic and individual sanctions against Russia, targeting Moscow’s energy revenues, banking operations, military suppliers, and trade flows, while also tightening restrictions on Belarus.
The latest package includes 55 new listings, 14 individuals and 41 entities, linked to actions undermining Ukraine’s sovereignty, bringing the total number of individual listings to over 2,500.
The EU lowered the oil price cap from $60 to $47.6 per barrel and introduced a dynamic adjustment mechanism. It also sanctioned 105 more vessels linked to Russia’s so-called shadow fleet, now totaling 444, and extended bans on related services.
Sanctions were imposed on Russian and international shadow fleet operators, oil traders, and an Indian refinery linked to Rosneft. For the first time, the captain of a shadow fleet vessel and a private registry operator were listed. One LNG-sector entity was also sanctioned.
A new import ban targets refined products made from Russian crude via third countries, excluding Canada, Norway, Switzerland, the UK, and the US. Oil imports to the Czech Republic are also no longer exempt.
The EU imposed a full transaction ban on Nord Stream 1 and 2, blocking any future use. The bloc expanded financial sanctions to 22 more Russian banks and lowered the threshold for targeting third-country institutions, including crypto providers, linked to Russia’s Transfer of Financial Messages (SPFS) system.
Four entities backed by the Russian Direct Investment Fund (RDIF) were listed, with further bans introduced on transactions involving the RDIF and its affiliates. Software exports used in banking and finance sectors are also restricted.
To weaken Russia’s military capacity, sanctions were imposed on three Chinese suppliers and eight Belarusian military-industrial entities. Export bans worth over €2.5 billion (€2.9 million) were approved, including computer numerical control machines and propellant chemicals.
Regarding Belarus, the EU listed eight new entities tied to its military-industrial complex. The bloc also further aligned its trade measures on Belarus with those on Russia, imposed a full transaction ban on specialized financial messaging services, and introduced an embargo on arms imports from Belarus.
“We are standing firm. The EU just approved one of its strongest sanctions package against Russia to date,” EU foreign policy chief Kaja Kallas said earlier today on X.
“Nord Stream pipelines (imports) will be banned. A lower oil price cap. We are putting more pressure on Russia’s military industry, Chinese banks that enables sanctions evasion, and blocking tech exports used in drones,” she added.
“We will keep raising the costs, so stopping the aggression becomes the only path forward for Moscow,” Kallas said.
