Russia sanctions

EU tightens reins on banks and media

(Bild: Suryani - stock.adobe.com)

The EU member states have agreed on the 16th package of sanctions against Russia, which will come into force next Monday on the third anniversary of the full-scale invasion of Ukraine. Among other things, the reins will be tightened on banks, media companies and the Russian "shadow fleet".

According to diplomats, the new sanctions package will exclude 13 more banks from the Swift financial communications system. In addition, eight Russian media companies will lose their broadcasting licenses in the EU, and there will be an extensive import ban on Russian aluminium and aluminum alloys and an export ban on devices that can be used to control combat drones. This also includes video game console controllers, for example.

A Russian oil tanker

(Bild: YAMIL LAGE)

Action against Russia's so-called shadow fleet will also be tightened. Accordingly, sanctions rules will be amended so that in future, the captains and owners of ships can also be subject to punitive measures.

The "shadow fleet" consists of ships with unclear ownership structures, some of which are not even insured. These are used, for example, to circumvent the Western price cap for Russian oil exports to third countries or to transport grain stolen from Ukraine. There are also fears that they will be used to sabotage data cables in the Baltic and North Sea in the future. 

Entry into EU ports prohibited
In the fight against the activities of the Russian shadow fleet, the EU had already banned almost 80 ships from entering ports last year and prohibited companies from offering them services. With the new round of sanctions, more than 70 are now to be added. There are also plans to ban transactions with ports and airports in Russia that play a role in circumventing the oil price cap.