European Commission Proposes New Sanctions Targeting Russian Vessels and Financial Services
The European Commission has announced its 21st sanctions package against Russia, focusing on sectors with significant impact such as energy, financial services, and trade. This package includes a ban on the entry of former Russian combatants into the European Union and targets vessels that assist tankers, including those providing bunkering services. The EU plans to list an additional 30 tankers on top of the 632 already sanctioned and extend restrictions on the sale of oil tankers to Russia to include LNG tankers. Additionally, the package proposes a ban on Russian fisheries and related infrastructure. The EU aims to maintain pressure on Russia by freezing the current oil price cap adjustment mechanism until January 2027, keeping the price at $44. The sanctions also include new export restrictions on items and technology that could be used by the Russian military, such as metals and aerospace materials. 
