EU approves 16th sanctions package targeting Russia's economy
Ambassadors from EU member states gave the green light Wednesday morning to the 16th package of EU sanctions on Russia. This package will encompass additional sectors of the Russian economy and the shadow fleet responsible for transporting oil from Russia. Poland played a significant role in the adoption of these sanctions.
The agreement was reached unanimously after the Polish presidency in the EU presented a compromise proposal. Poland was eager for the sanctions to be adopted before the third anniversary of Russia's full-scale invasion of Ukraine, which is on February 24.
According to information provided by diplomatic sources, the new sanctions include cutting off several more Russian banks from the SWIFT system, placing restrictions on over 70 ships belonging to the shadow fleet, and suspending licenses for several Russian media outlets to operate within EU territory.
Further individuals have also been added to the sanctions blacklist, resulting in a ban on entry to the EU and freezing their assets within the Community.
The sanctions also target additional sectors of the Russian economy, including aluminum exports. The package also bans the export of certain chemicals to Russia.
Wednesday's decision extends further sanctions to Belarus as well, aiming to prevent the country from assisting Russia in circumventing Western restrictions.
In December of last year, EU member states adopted the 15th package of sanctions aimed at Russia and its allies for the war against Ukraine. This sanctions list included 84 individuals and entities involved in assisting the Kremlin. For the first time, it imposed comprehensive sanctions on companies from China.
The sanctions package, approved in Brussels by the foreign ministers of EU countries, imposed restrictions on 84 entities and individuals involved in supporting Russia in the war against Ukraine, in Russian hybrid attacks on the territory of the European Union, and in circumventing sanctions, including through the use of the shadow fleet, which consists of tankers secretly transporting Russian oil.
