European Commission President Ursula von der Leyen announced that the 16th package of sanctions is being prepared. It is intended to increase economic pressure on Russia.
Points of attention
- The EU's 16th package of sanctions aims to increase economic pressure on Russia and undermine Vladimir Putin's financial resources.
- The 15th package of sanctions has already dealt a significant blow to the Russian economy, leading to a record low ruble and high inflation.
- The new sanctions are aimed at restricting the activities of Russia's 'shadow fleet' and weakening the military-industrial complex.
- The 15th package of EU sanctions restricts the activities of Chinese companies that support Russian military aggression through the supply of components for drones and microelectronics.
- The measures include a travel ban, asset freezes and restrictions on the provision of economic resources, as well as an expanded list of ships subject to sanctions.
What is known about the EU's preparation of the 16th package of sanctions against Russia
During a speech in the European Parliament, von der Leyen emphasized that more than a third of the Russian budget today goes to military spending, which is turning the Russian economy into a "war economy."
Therefore, as the President of the European Commission emphasized, it is critically important to undermine the financial resources of Russian dictator Vladimir Putin.
While the old Syria is gone, the new one isn’t born yet.
— Ursula von der Leyen (@vonderleyen) December 18, 2024
The coming weeks and months will be crucial to shape it.
Europe will play its role.
Providing humanitarian aid, contributing to recovery and reconstruction ↓
https://t.co/kKlgYkGA9k
"Last week, we adopted our 15th sanctions package, which included restrictions against Russia's shadow fleet and sanctions evasion schemes. And a 16th package is already being prepared," von der Leyen said.
The President of the European Commission emphasized that the sanctions are already inflicting a significant blow on the Russian economy:
The ruble is at a record low since the start of the full-scale war, despite stabilization attempts by the Russian Central Bank.
Inflation in some sectors of the Russian economy has reached 70%.
According to Radio Liberty's Europe editor Rikard Jozwiak, a new package of sanctions could be presented to EU member states as early as January 2025.
What is known about the 15th package of EU sanctions against Russia?
As noted, the new sanctions package is aimed at restricting the activities of Russia's "shadow fleet" and weakening its military-industrial complex.
The sanctions list includes 54 individuals and 30 entities from Russia, China, and North Korea. These include the Russian "shadow fleet," military personnel involved in the strikes on Okhmatdyt, and individuals responsible for the deportation of children and the spread of propaganda.
For the first time, sanctions have been imposed on Chinese companies supplying drone components and microelectronics to support Russian military aggression. The measures include travel bans, asset freezes, and restrictions on the provision of economic resources.
The list of ships banned from EU ports and maritime services has also been expanded, with 52 tankers from third countries belonging to Putin's "shadow fleet". The total number of vessels targeted by sanctions has increased to 79.
The list also includes 32 new entities that contribute to the Russian military-industrial complex. They face increased restrictions on the export of dual-use goods and technologies that could improve Russia's defense sector.
These companies and organizations are located not only in Russia, but also in third countries, including China, India, Iran, Serbia, and the UAE.
