EU proposes 21st package of sanctions against Russia
Brussels, June 9
The European Commission has proposed the 21st package of sanctions against Russia, targeting key sectors including energy, financial services and crypto, trade and, for the first time, fisheries, European Commission President Ursula von der Leyen said Tuesday.
According to a statement released by the Commission, the proposed measures include suspending the automatic adjustment mechanism of the oil price cap until next January, which would allow oil markets to stabilise while maintaining pressure on Russian revenues.
Thirty additional vessels would be added to the sanctions list, on top of the 632 already designated. For the first time, sanctions would also target vessels providing support services to the "shadow fleet," including bunkering operations, Xinhua news agency reported.
In addition, the proposal includes restrictions on ports, airports and refineries involved in trading or processing Russian oil. The sale of Liquefied Natural Gas (LNG) tankers to Russia would also be restricted.
On financial and crypto-related measures, the Commission would expand transaction bans to 31 additional Russian banks, as well as to 20 banks, crypto firms, platforms and oil traders in third countries.
On trade, the proposed package introduces new export restrictions on goods and technologies used by Russia's military-industrial sector, as well as drone-related equipment.
The Commission also proposed import bans on goods worth around 60 million euros (69.4 million US dollars), including certain metals and automotive parts, as part of efforts to reduce dependence on Russian imports.
For the first time, the EU would also target Russia's fisheries sector, proposing substantial restrictions on imports of certain fish products and a complete ban on others, including cod.
Von der Leyen also announced a new measure under the package to ban entry into the EU of individuals who have served in the Russian armed forces since the start of the Ukraine conflict.
The proposal still requires approval by all EU member states before it can enter into force.
— IANS
Reader Comments
I understand the EU's frustration, but 21 packages of sanctions already? At what point do they realize this is hurting their own economies more? The oil price cap suspension is interesting - markets need stability, but Russian revenues are being squeezed. And banning entry for Russian soldiers seems more symbolic than practical. The EU should focus on diplomatic solutions, not just punishment.
Ye EU walo ka kya hai, unke paas pese hai toh sanctions daalte rahenge. But for India, this is a delicate balancing act. We need Russian oil for our energy security, but we also want to maintain good relations with the West. The 60 million euros of banned imports is peanuts compared to what Russia is losing. And targeting crypto firms in third countries? That's going to cause chaos in the global crypto market. 🚢
I have mixed feelings. On one hand, Russia's aggression in Ukraine is unacceptable and needs consequences. On the other, sanctions haven't stopped the war in 2+ years. The EU's ban on Russian fish imports like cod will hurt Russian fishermen, but will it change Putin's calculus? Unlikely. The real impact will be on global supply chains and developing nations like India who get caught in the crossfire.
The EU keeps adding more banks and crypto firms to the list - 31 Russian banks and 20 third-country entities this time. That's a lot of financial disruption. But I'm curious about the "shadow fleet" aspect. Bunkering operations being targeted is new. These are ships that transfer oil from Russian tankers to others in international waters. It's like a cat and mouse game. The EU needs better enforcement, not just more sanctions.
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