EU Agrees to New Russia Sanctions Package
The EU on June 20 agreed to a 14th package of Russia sanctions that will continue targeting Russia’s oil trade, designate various entities and people for their ties to Russia, and tighten restrictions against a so-called shadow fleet of vessels moving Russian oil below the price cap set by the Group of 7 nations and others (see 2405150025).
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Belgium, which holds the presidency of the Council of the EU, said on social media platform X that the measures are a “powerful and substantial” package that “provides new targeted measures and maximises the impact of existing sanctions by closing loopholes.” Ursula von der Leyen, president of the European Commission, said the sanctions will also “further deny Russia access to key technologies” and target Russia’s “shadow fleet and shadow banking network abroad.”
The new sanctions are expected to be officially approved when EU ministers meet June 24, Reuters reported.