EU Approves New Sanctions Against Russia on Ukraine Conflict Anniversary

European Union envoys have approved a new package of sanctions against Russia, scheduled to take effect next week on the third anniversary of the conflict in Ukraine, The Associated Press reports.

The move comes as the EU finds itself largely excluded from US-led negotiations to resolve the situation.

Since the start of the Ukraine conflict in February 24, 2022, the EU has implemented multiple rounds of sanctions targeting Russia. To date, over 2,300 officials and entities, including government agencies, banks, and organizations, have been affected by these measures.

The newly approved package, the 16th round of sanctions, encompasses travel bans, asset freezes, and trade restrictions. Approval by EU foreign ministers is required on Monday for the measures to be finalized and implemented.

A key focus of the latest sanctions is Russia’s “shadow fleet” of ships, which are allegedly used to circumvent restrictions on the transport of oil, gas, and Ukrainian grain. Around 70 vessels believed to be part of this shadow fleet will be added to the existing list of over 50 sanctioned ships.

EU Commission President Ursula von der Leyen, whose office contributed to drafting the proposed measures, expressed her support for their anticipated adoption by the EU member states.

Nearly 50 Russian officials are slated to be targeted, joining a list that already includes President Vladimir Putin and numerous lawmakers. Dozens more entities will also face sanctions. The package includes restrictions on 13 Russian banks and 3 financial institutions.

The sanctions also aim to restrict the use of 11 Russian ports and airports that the EU believes are assisting Moscow in circumventing an oil price cap and other previously imposed measures.

Furthermore, the sanctions include trade bans on specific chemicals and aluminum products.