© picture alliance / NurPhoto | Nicolas Economou
"Our sanctions are working," European Commission President Ursula von der Leyen reported on X, at the presentation of the European Union's 21st package of sanctions against Russia.
"Brick by brick we are undermining the foundations of Russia's war economy. Today we present our proposals for a 21st package of sanctions against Russia," wrote Kaja Kallas, the European Union's High Representative for Foreign Affairs and Security Policy, on X. "This includes a temporary freeze on the price ceiling for Russian oil and the designation of institutions used by Moscow to generate revenue and circumvent EU sanctions. The package targets banks, arms producers, oil traders, refineries and crypto operators in third countries."
The European Union is also stepping up sanctions against individuals and entities enabling Russia's war against Ukraine. "As part of this package, my services are proposing the largest list in the last two years, with more than 170 proposals, particularly in the areas of the financial sector, energy and drone production," Kallas said. "This is in addition to the 81 entries that the Foreign Affairs Council will adopt next week, targeting Russia's shadow fleet, its military-industrial complex, human rights violators and propagandists."
The new measures aim to deprive Russia of the funds it uses to finance the war against Ukraine. The EU plans to hit the Russian financial sector "by imposing asset freezes on nearly 90 banks and additional transaction bans on more than 30 banks in Russia and other third countries. We will also tighten our ban on crypto asset services for certain third countries, add new designations and ban transactions on 11 crypto platforms."
"The sale of energy keeps the Russian war machine running. We want to cut off this flow of money," Kallas continued. "We will introduce a temporary freeze on Russia's oil price ceiling and new restrictions on the resale of LNG carriers to Russia. Our work to curb the activities of the Russian shadow fleet continues, with sanctions against 30 new ships, proposals for new designations of facilitators and the expansion of our criteria for listing ships. Any ship that supplies or fuels blacklisted ships will itself be subject to sanctions. Also, 2 Russian ports and 4 airports will face transaction bans."
Companies that support the Russian military-industrial complex should also feel the impact of the new measures: "The new lists include more than 30 designations in the drone industry, as well as new export control measures for 50 companies, including entities based in China, Turkey, Kyrgyzstan, Kazakhstan, the UAE and India. We will also restrict exports of additional materials and technologies, such as nickel powders, metals and high-performance alloys, to further disrupt Russia's production capacity. Imports of new goods, including auto parts, various precious metal ores and chemicals, will also be restricted."
The European Union will also adopt a stricter visa policy: "Europe's door should not be open to (former) fighters of Russia. We will introduce a comprehensive visa ban for (former) fighters of the Russian armed forces and the groups acting on behalf of Russia."
Picture: © picture alliance / NurPhoto | Nicolas Economou