On June 24th, the European Union approved the 14th round of sanctions against Russia for its invasion of Ukraine. The new sanctions aim to fill some gaps in evasion and for the first time target Russia’s liquefied natural gas (LNG) exports.
In this latest round of sanctions, the EU Council imposed restrictive measures on 69 individuals and 47 entities. Assets of those listed individuals and entities will be frozen, and EU citizens and companies are prohibited from providing them with funding. Additionally, natural persons will be banned from traveling and entering the EU territory or transiting through it.
For the first time, the EU is targeting Russia’s liquefied natural gas sector. The new sanctions prohibit the provision of transshipment or reloading services within the EU for Russia’s LNG to third countries, including ship-to-ship and ship-to-shore transshipment, but not imports, only re-exports through the EU to third countries.
Furthermore, the EU will prohibit new investments, as well as the supply of goods, technology, and services to ongoing LNG projects such as the Arctic LNG 2 and Murmansk LNG projects.
EU High Representative for Foreign Affairs Josep Borrell stated in a press release that “the 14th round of sanctions demonstrates our unity in supporting Ukraine and limiting Russia’s criminal activities against Ukrainians, including evading EU measures.”
Borrell believes that the implementation of sanctions has significantly impacted Russia’s economy, effectively “crippling” its aggressive plans.
Ukrainian Foreign Minister Dmytro Kuleba took to social media platform X to express the importance of the 14th round of sanctions in curbing Putin’s war economy, following an invitation by Borrell to speak at the EU Foreign Affairs Council.
Kuleba welcomed the EU’s recent move to use frozen Russian assets to support Ukraine.
Since Russia’s full-scale invasion of Ukraine in February 2022, Western countries have imposed comprehensive sanctions on Moscow, gradually escalating them.
The EU has taken restrictive measures against actions that undermine or threaten the territorial integrity, sovereignty, and independence of Ukraine, with over 2,200 individuals and entities currently subjected to these measures.
In terms of export-import controls and restrictions, the EU Council added 61 entities that directly support Russia’s military and industrial complex involved in the aggressive war against Ukraine.
Some of these entities are located in third countries such as China, Kazakhstan, Kyrgyzstan, Turkey, and the United Arab Emirates, which have engaged in evading trade restrictions, purchasing sensitive items for producing drones, or providing material support for Russian military operations. These entities will face stricter export-import limitations.
The EU has further restricted exports of goods that contribute to enhancing Russia’s industrial capabilities, such as chemicals including manganese ore and rare earth compounds, plastics, excavators, displays, and electrical equipment. There are also additional restrictions on importing helium from Russia, which is a significant source of income for Russia.
For the first time, the EU has taken measures against specific vessels assisting Russia in its war against Ukraine, banning them from entering ports and providing services. In the new sanctions, 27 ships are included on the sanction list.
Additionally, the EU has expanded the no-fly zones and the scope of the ban on road freight transport within the EU to include transit transport, to incorporate EU operators in which Russian individuals or legal entities hold 25% or more shares.