EU proposes new Russia sanctions, targets firms in India, China and UAE
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EU High Representative and Vice-President for Foreign Affairs and Security Policy Kaja Kallas Photograph: (AFP)
The proposed package also includes a comprehensive visa ban on current and former Russian military personnel and members of proxy groups.
The European Union on Tuesday proposed its 21st package of sanctions against Russia over the Ukraine war, targeting financial institutions, energy networks, military supply chains and companies in several countries, including India and China, that it alleges are supporting Russia's military industrial sector.
Announcing the proposal on X, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas said the measures are aimed at further weakening Russia's ability to finance and sustain its military operations.
"Brick by brick, we are collapsing the foundations of Russia's war economy," Kallas said.
The proposed package includes a temporary freeze on the Russian oil price cap and fresh restrictions on institutions that the EU claims help Moscow generate revenue and bypass existing sanctions. Banks, weapons manufacturers, oil traders, refineries and cryptocurrency operators are also among those targeted.
"We are intensifying our sanctions efforts against individuals and entities that enable Russia's war against Ukraine," Kallas said.
India among the countries named
Kallas said the package contains more than 170 proposed listings, making it the largest sanctions expansion put forward by her office in more than two years.
"As part of this package, my services are putting forward the largest set of listings in over two years, with over 170 proposals, notably on the financial sector, energy and drones' production," she stated.
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The EU is also proposing export control measures on 50 companies located in India, China, Turkiye, Kyrgyzstan, Kazakhstan and the United Arab Emirates.
"We are also targeting companies providing support to Russia's military industrial complex. The new listings will cover more than 30 designations in the drone manufacturing as well as new export control measures on 50 companies, including entities based in China, Turkiye, Kyrgyzstan, Kazakhstan, the UAE and India," she said.
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The package would further tighten restrictions on exports of materials and technologies considered important for Russia's industrial and defence sectors.
Focus on banks, energy and shadow fleet
The EU is seeking to increase pressure on Russia's financial sector through asset freezes on nearly 90 banks and transaction bans affecting more than 30 banks in Russia and other countries. Additional measures have also been proposed against cryptocurrency platforms.
The proposal also expands action against Russia's shadow fleet, with 30 additional vessels facing sanctions, while new restrictions have been proposed on two Russian ports and four airports.
