EU Adopts 15th Sanctions Package Against Russia, Targets Shadow Fleet and Chinese Entities.
The European Union has approved its 15th package of sanctions against Russia over its ongoing invasion of Ukraine, introducing tighter restrictions on Moscow’s “shadow fleet” of vessels and expanding measures against Chinese entities linked to Russia’s military efforts.
The package adds 52 vessels to the EU’s sanctions list, bringing the total to 79. These vessels are accused of circumventing Western restrictions by transporting oil, arms, and grain. Among them, 33 ships were sanctioned specifically for transporting crude oil or petroleum products originating in or exported from Russia, raising the total number of oil-related sanctions to 43.
The shadow fleet has been under increasing scrutiny this year, with some vessels reportedly involved in delivering North Korean ammunition to Russia.
First Full Sanctions Against China
The sanctions package includes measures against seven Chinese individuals and entities, marking the first fully-fledged sanctions imposed on China. These measures include travel bans and asset freezes.
The EU Commission identified one individual and two entities as facilitating the circumvention of EU sanctions, while four entities were listed for supplying sensitive drone components and microelectronics to the Russian military.
“This move sends an important signal to China. We take this very seriously,” an EU diplomat commented.
EU sanctions chief David O’Sullivan and Ukrainian officials have previously highlighted China’s role as a primary route for the sale of foreign technology to Russia.
Broader Sanctions Scope
Beyond China, the latest measures also target senior Russian energy sector officials, two North Korean officials, and 20 companies and entities operating in India, Iran, Serbia, and the UAE.
Among those sanctioned is EU citizen Niels Troost, accused of controlling Paramount Energy and Commodities DMCC, a firm alleged to have traded Russian crude oil above the EU-imposed price cap. Troost denies the allegations, with his spokesperson stating, “This decision has no basis in law or fact.”
Paramount DMCC had already been sanctioned by the UK in November 2022.
Financial Measures to Support Ukraine
The EU also introduced measures to ease the burden on its central securities depositories, such as Belgium’s Euroclear, in handling Russia’s immobilized central bank assets. The Group of Seven (G7) nations had earlier agreed to use over $300 billion in frozen Russian funds to back a $50 billion loan for Ukraine.
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Looking Ahead
The EU Commission is reportedly preparing a 16th sanctions package for January 2024. The upcoming measures may include restrictions on Russian liquefied natural gas (LNG) and export limits for EU companies’ subsidiaries operating in third countries.
These continued efforts reflect the EU’s commitment to countering Russia’s actions in Ukraine and addressing broader implications for global trade and security.
