EU sanctions 32 more Russian banks, targets shadow fleet
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The European Union imposed sanctions on 32 additional Russian banks and froze the oil price cap adjustment mechanism for one year. The measures also target crypto firms, oil trading platforms, and vessels supporting Russia's shadow fleet. The package was adopted after Greece secured a one-year exemption for Russian LNG shipments under pre-war contracts.
New Sanctions Package
European Commission President Ursula von der Leyen announced the 21st sanctions package on X, stating it includes 32 Russian banks, crypto firms, and oil trading platforms. For the first time, the EU sanctioned vessels supporting Russia's shadow fleet. The package also restricts visas for former Russian combatants in Ukraine and targets the Russian financial sector and military-related enterprises.
Greek Compromise
The package was delayed due to disagreements among EU members, particularly with Greece. According to The Guardian, Athens secured a one-year exemption for Russian LNG shipments to third countries under contracts signed before Russia's full-scale invasion of Ukraine. After the compromise, all 27 EU ambassadors approved the sanctions.
What's Next
The EU will monitor compliance with the new sanctions, particularly regarding the shadow fleet and LNG exemptions. It remains unclear whether further packages will target additional sectors or if the price cap mechanism will be reinstated after the one-year freeze.
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EU sanctions 32 more Russian banks, targets shadow fleet
