15th EU sanctions package on Russia published and implemented
20 Dec 2024
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On 16 December 2024, the European Union announced its 15th sanctions package targeting Russia. This new package reinforces the EU’s commitment to weakening Russia’s military and economic capabilities while combating sanctions evasion.
Key elements include:
Cracking down on Russia’s shadow fleet
- The EU targeted 52 additional third country vessels, bringing the total of vessels subject to a port bans and service restrictions to 79.
- The designated vessels are engaged in transporting Russian oil, arms, and stolen grain.
- This measure aims to reduce Russia's ability to circumvent the oil price cap and address safety and environmental risks posed by these vessels.
Expanded sanctions listings against Russia (and Belarus)
- The package includes 84 new listings, targeting 54 individuals, and 30 entities.
- These include Russian military manufacturers, energy sector leaders, and those responsible for war crimes, such as attacks on a Kyiv children's hospital and deportations.
- For the first time, travel bans, asset freezes, and prohibition of funds were imposed on seven Chinese actors supporting Russia's war efforts through the supply of drone and microelectronic components.
In addition, the EU sanctioned 26 individuals and 2 entities in Belarus. EU restrictive measures against Belarus now apply to 287 individuals and 39 entities. These include asset freezes, travel bans, and prohibitions on making funds available to those designated.
Trade and technology restrictions
- The sanctions target 32 additional companies across multiple jurisdictions, including China, Serbia, Iran, the United Arab Emirates, and India.
- Such companies are now subject to stricter export controls in relation to dual-use goods and technologies critical to Russia's military-industrial complex.
Financial sector protections
- New measures protect EU Central Securities Depositories from retaliatory Russian legal claims.
- These include provisions for cash recovery and liability protections to mitigate financial risks.
Safeguarding EU interests in litigation with Russian counterparts
- To protect EU businesses, the package bans the enforcement of certain Russian court rulings in the EU and extends provisions allowing companies more time to divest from Russia.
Continued commitment to sanctions enforcement
- The EU remains resolute in addressing sanctions circumvention, working with global partners, and neighbouring countries to ensure compliance.
For more details, the Council of the EU press release can be found here and the European Commission’s press release can be found here.
The official press release for the sanctions against Belarus, can be accessed here.
The above measures have been implemented through a series of regulations and decisions, these are set out in detail in our consolidated EU sanction table on Russia which is found here.
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