On 20 May, the EU adopted its 17th package of sanctions against Russia. The aim of this package is to deny Russia access to key military technology and to significantly reduce the revenue from the energy sector that is being used to finance the war against Ukraine.
‘Shadow fleet’ in the crosshairs
The new sanctions package focuses on Russia's ‘shadow fleet’: the number of sanctioned tankers has been doubled to 342. The measures include port access bans and service prohibitions. The aim is to weaken Russia's oil revenues and military capabilities.
In addition, the EU is sanctioning companies and actors that support the ‘shadow fleet.’ These include shipping companies from the United Arab Emirates, Turkey and Hong Kong, as well as a Russian insurance company.
New sanctions and export restrictions
The EU is imposing sanctions on more than 45 Russian companies and individuals that support the Russian military. Actors from Russia, China and other third countries that supply goods that can be used for military purposes are also affected.
Of particular importance is the fact that Annex VII (the so-called ‘small dual-use list’) has been republished. Companies are therefore required to check whether their products fall under this annex. The annex now includes, in particular, chemical precursors for energetic materials, spare parts and components for high-precision CNC machine tools.
Energy sector and individual sanctions
The EU is sanctioning Surgutneftegaz and another Russian company involved in oil transportation for their financial support of the war.
In addition, 75 other individuals and organisations have been listed. This brings the total number of individuals and organisations affected to over 2,400. The measures include asset freezes, financial prohibitions and travel restrictions.
Links:
Neues Sanktionspaket gegen Russland
Zeitleiste – EU-Sanktionen gegen Russland
Russia’s war of aggression against Ukraine: EU agrees 17th package of sanctions
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