EU and UK Intensify Sanctions Against Russia Targeting Oil Fleet and Military Chains

The European Union and the United Kingdom have jointly intensified their economic pressure on Russia by unveiling comprehensive new sanctions. On Tuesday, the European Union announced its 17th and most extensive sanctions package, while the UK introduced 100 fresh sanctions targeting Russia's financial institutions and military suppliers. These moves are designed to curb Russia's access to crucial military technology and resources.

The European Council highlighted the breadth of this action, stating that the package also addresses Russia's hybrid activities and human rights violations domestically. A significant focus is on Russia's shadow fleet, which is used to transport oil using precarious shipping practices. The measures aim to cripple this fleet, which comprises 342 vessels, thereby reducing essential oil revenues fueling Russia's war efforts.

In addition to targeting shipping companies involved in transporting Russian crude oil, the EU imposed sanctions on organizations and entities from countries like the UAE, Turkey, and Hong Kong that enable the shadow fleet's operations. Other significant restrictions were placed on over 45 Russian companies and individuals assisting the Russian military. The UK backed these initiatives by focusing on supply chains for Russian weapons systems, targeting Russian and international entities aiding these operations.

(With inputs from agencies.)