EU ministers seal fresh sanctions package against Russia

EU foreign ministers on Tuesday approved a 17th round of sanctions against Russia over the Kremlin’s ongoing war against Ukraine.

The package doubles the number of banned ships in Russia’s so-called shadow fleet, the ill-maintained flock of oil and gas tankers that Moscow uses to circumvent a maximum oil price agreed on by the West.

“While Putin feigns interest in peace, more sanctions are in the works. Russia’s actions and those who enable Russia face severe consequences,” the EU’s top diplomat Kaja Kallas said in a statement.

Aside from the shadow fleet, the EU also put restrictions on a Russian oil company and a shipping business. EU entrepreneurs are also forbidden to do business with more than 45 entities and individuals in the military industry. A Chinese state-owned company was added to the same list, a long with two others from that country.

Several dozen Russian and third-country companies will face stricter export controls when they want to buy European goods.

As the push for a ceasefire becomes stronger, the EU is already exploring the next round of sanctions, including banning dealings with the companies behind the Nord Stream gas pipelines.

The restrictions apply from Wednesday, after they were published in the EU’s Official Journal today.