advertentieThe European Commission welcomes the Councils adoption of the 18th sanctions package against Russia, which aims to increase pressure on the country and support the EUs goal of achieving a just and lasting peace for Ukraine.
The new measures focus on five key areas: reducing Russias energy revenues, targeting its banking sector, weakening its military-industrial complex, enhancing anti-circumvention efforts, and holding Russia accountable for its crimes against Ukrainian children and cultural heritage. With this package, the total number of vessels in Russias shadow fleet reaches 444 vessels, and the number of individual listings exceeds 2,500. This package also imposes new sanctions on Belarus.
The 18th package includes the following key elements:
ENERGY MEASURES
- Lowering the Oil Price Cap for crude oil from 60 to 47.6 USD with an automatic and dynamic review mechanism. This ensures the cap remains 15% lower than the average market price for Urals crude over the past six months, providing predictability for operators and reducing Russian energy revenues.
- Transaction ban for Nord Stream 1 and 2: No EU operator can engage in any transactions related to the Nord Stream pipelines.
- Import ban on refined oil products derived from Russian crude: This prevents Russian crude oil from reaching the EU market in any form.
- 105 additional vessel listings, bringing the total to 444 vessels in Russias shadow fleet. Three LNG tankers have been delisted following commitments not to transport Russian energy for specific projects. Listed vessels face port access bans and restrictions on services.
- Full-fledged listings - asset freezes and travel bans - throughout the shadow fleet value chain, targeting Russian and international companies managing these vessels.
FINANCIAL MEASURES
- Transforming the ban on specialized financial messaging services with certain Russian banks into a full transaction ban: EU firms are prohibited from engaging in any business with the 23 listed entities.
- Adding another 22 Russian banks to this ban, increasing the total to 45.
- Broadening the transaction ban for third-country financial operators, including crypto-asset providers supporting sanctions circumvention.
- New transaction ban targeting the Russian Direct Investment Fund (RDIF), its subsidiaries, and supporting financial institutions.
- Ban on certain banking software provision: This includes key types of banking software.
TRADE MEASURES
The package expands export restrictions and bans to disrupt Russias military-industrial complex.
- Restrictions on additional advanced technologies;
- Further export bans that correspond to almost €2.1 billion of exports in 2024 terms.
ANTI-CIRCUMVENTION MEASURES
- This package adds 26 entities providing support to Russias military-industrial complex or engaging in sanctions circumvention.
- The transit ban is expanded by adding 8 CN codes for economically critical goods.
- It also introduces a catch-all provision to prevent circumvention of sanctions through third countries.
TARGETING RUSSIAS MILITARY CAPABILITIES AND SUPPLY CHAINS
- The package includes 55 additional listings targeting Russias military capabilities and supply chains.
RUSSIAS ACCOUNTABILITY
- By adding another individual involved in the military indoctrination of Ukrainian children, the total number of designations for such actions exceeds 80.
- It also lists several Russian proxies in occupied territories.
MEASURES TO PROTECT MEMBER STATES FROM ARBITRATION
- Introduction of protective restrictions for investor-to-state dispute settlements: These measures protect Member States from economic damage due to investment arbitrations related to EU sanctions.
NEW MEASURES AGAINST BELARUS
This package includes additional measures against Belarus, such as prohibiting arms procurement and expanding the transaction ban.
For More Information
Official Journal (text will be available soon)