The European Union approved the fifteenth package of sanctions against Russia

The organization’s press release notes that the sanctions should prevent Russia from transporting crude oil and petroleum products by sea, which provides “a significant portion of the Russian government’s revenue.” According to data from the Ministry of Finance, the share of oil and gas revenues in the structure of the federal budget for the period January-November 2024 reached 31.7%.

The restrictions on entering ports and receiving commercial and maritime services affected 52 vessels flying the flags of third countries. Thus, the list was expanded to 79 ships. According to EU authorities, the practice of chartering tankers under the flags of third countries helps the Russian government to avoid the maximum price for the purchase of Russian oil set in 2022.

In July, the US Treasury presented a proposal to impose sanctions against Russia’s “shadow fleet”, according to the New York Times, but the White House Economic Council opposed it.

In addition, the EU for the first time introduced full sanctions (travel ban, asset freeze and restriction of economic activity) against individuals from China supplying microelectronics and drone parts to the Russian market.

The new sanctions also targeted two high-ranking DPRK officials and “senior managers of major Russian energy companies.”

With a new resolution, the EU Council prohibited the recognition or enforcement in the EU of judicial decisions of Russian courts on the basis of Art. 248 armored transport vehicles of Russia. Such decisions prohibited one of the parties from initiating or continuing legal proceedings outside Russian jurisdiction, which, according to European authorities, “is a violation of international principles” and leads to “disproportionately high fines for European companies.”

In addition, the Council authorized the release of assets held in European central securities depositories. “Thanks to this measure, central depositaries will be able to contact the competent authorities of the member states [Евросоюза] with a request to unfreeze the remaining funds and use them to meet legal obligations to customers,” the press release says.

The exact list of legal entities and natural persons subject to restrictions will be published in the official journal of the European Union, the statement said.