EU Adopts 15th Package of Sanctions Against Russia

Flags of the Eu countries. X/ @Ukrinform_News


December 16, 2024 Hour: 8:20 am

Sanctions target seven Chinese entities and add 52 vessels to the ‘Shadow Fleet’.

On Monday, the European Union (EU) approved sanctions targeting additional Chinese companies and North Korean officials for their support of Russia’s war against Ukraine. This marks the EU’s 15th package of restrictive measures since Russia launched its military operation in Ukraine in February 2022.

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The new measures aim to prevent Russia from maintaining the economic resources necessary to sustain its army and include further provisions to stop the circumvention of existing sanctions.

EU foreign ministers endorsed adding 84 names to the sanctions list: 54 individuals and 30 entities deemed responsible for actions undermining or threatening Ukraine’s territorial integrity. The list includes the military unit responsible for the assault on Kyiv’s Okhmadyt children’s hospital, senior executives from key energy sector companies, as well as two senior North Korean officials.

Regarding the entities, the sanctions primarily target Russian defense companies and shipping firms responsible for transporting crude oil and petroleum products. The EU also added a chemical plant and a Russian civil airline, which serves as a major logistics provider for the Russian military, to the list.

For the first time, sanctions have been imposed on several Chinese entities, including a travel ban, asset freezes, and restrictions on providing economic resources. These entities have been accused of supplying components for drones and microelectronic parts.

The EU Council also added more vessels to the list of those banned from accessing EU ports, targeting non-EU tankers that are part of Russia’s so-called “shadow fleet,” which circumvent the oil price cap mechanism, support Russia’s energy sector, transport military equipment to Russia, or carry stolen Ukrainian grain. As of today, 52 additional vessels from third countries have been sanctioned, bringing the total number of blacklisted ships to 79.

Furthermore, the EU sanctioned 32 additional entities supporting Russia’s military-industrial complex. These entities will face stricter export restrictions on dual-use goods and technologies (for both civilian and military purposes), as well as goods and technology that could enhance Russia’s defense and security.

Some of these entities are located in third countries, including China, India, Iran, Serbia, and the United Arab Emirates. They have been involved in circumventing trade restrictions or acquiring sensitive items for use in Russian military operations, such as drones and missiles.

To protect European companies from disputes with their Russian counterparts, the EU Council decided to prohibit the recognition or enforcement within the European Union of judgments issued by Russian courts. These rulings have often prevented opposing parties from initiating or continuing proceedings in jurisdictions outside Russia and have led to disproportionately high financial penalties for European businesses, the EU Council stated.

Additionally, the Council introduced an exception allowing the release of cash balances held by EU central securities depositories, which was deemed necessary due to the increase in litigation and retaliatory measures in Russia.

Finally, the EU extended deadlines for certain exceptions necessary to divest from Russia. The Council emphasized that, given the risks of maintaining business activities in Russia, EU operators “should consider ending their business dealings in Russia or refraining from starting new ones in the country.”

To facilitate this, the Council deemed it necessary to grant an exceptional extension of the divestment exceptions, enabling EU operators “to exit the Russian market as soon as possible.”

teleSUR/ JF Source: EFE