European Union envoys have reached an agreement on a new set of sanctions against Russia in response to its actions in Ukraine. The sanctions specifically target a large fleet of ships that Russia is using to bypass restrictions on transporting oil and fuel. These ships, numbering around 50, are described as dilapidated vessels that operate illegally to evade sanctions. The goal of the sanctions is to limit the activities of these ships that are involved in supporting Russia's actions against Ukraine.
The sanctions package will also extend to additional officials and entities, including organizations, companies, banks, and government agencies. These measures will particularly focus on entities in countries that assist Russia in enhancing its military capabilities by circumventing export controls.
EU foreign ministers are set to formally approve the sanctions on Monday. The specific details of the individuals and entities targeted will be disclosed when the measures are published in the EU's official legal journal.
Since Russian troops entered Ukraine in February 2022, the EU has implemented multiple rounds of sanctions against Russia. Over 2,300 individuals and entities are currently subject to these restrictive measures.
The sanctions have impacted various sectors, including energy, banking, and the diamond mining industry. Asset freezes and travel bans have been imposed on President Vladimir Putin, his associates, Russian lawmakers, and numerous other entities.
