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EU Targets Russia’s Trading Partners With Latest Sanctions Package

European Union governments have agreed to an 11th package of sanctions against Russia over its invasion of Ukraine aimed largely at stopping other countries and companies from circumventing previously imposed sanctions.

European Commission President Ursula von der Leyen said the new package will “deal a further blow to [Russian President Vladimir] Putin’s war machine with tightened export restrictions, targeting entities supporting the Kremlin,” she said on June 21 after the Swedish Presidency of the EU Council announced that the package had been agreed.

“Our anti-circumvention tool will prevent Russia from getting its hands on sanctioned goods,” Leyen added on Twitter.

The latest sanctions aim to close loopholes so that goods and technology vital to Moscow’s war effort don't reach Russia via nations that trade with the EU.

The new package allows the implementation of measures restricting the export of sensitive dual-use goods and technology to third countries, which could then transfer them to Russia. The new rules allow the EU to exert much more pressure to end the practice than before.

EU officials have long been concerned about a surge of demand for EU products from Russia's neighbors, including Armenia, Kazakhstan, and Kyrgyzstan, and from other countries that have maintained trading relationships with Moscow, such as the United Arab Emirates, Turkey, and China.

The package adds 71 people and 33 entities to those banned from the EU and freezes any assets they hold in EU jurisdictions for being involved in the illegal deportation of Ukrainian children to Russia.

It also extends the suspension of EU broadcasting licenses for five Russian state-controlled media.

In addition, the package bans access to EU ports for ships that engage in ship-to-ship transfers of crude oil or petroleum products at sea if there is cause to suspect the cargo was of Russian origin.

By RFE/RL

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  • Mamdouh Salameh on June 22 2023 said:
    If the earlier 10 EU packages of sanctions against Russia along with bans on Russian oil and gas exports and a price cap to boot have failed miserably to cause even the slightest dent on Russia’s economy and its energy exports, then the 11th package won’t fare better.

    Russia has successfully completed moving its markets from West to East with its exports of crude oil and petroleum products breaking records four times so far this year.

    Russia’s economy is virtually self-sufficient not needing to import even a needle if it so wishes. Moreover Russia neither needs Western technology nor its finance.

    A case in point is that when Western oil supermajors Shell and ExxonMobil quitted operations in Sakhalin-2 LNG project in Russia’s Far East in the aftermath of the Ukraine conflict, they thought that their withdrawal would cripple the project. The project has been flourishing while they ended up having to sell their stakes at bargain-basement prices.

    On the other hand, the Japanese company Mitsui & Co decided to keep its stake maintaining that the Sakhalin 2 project has all the technical know-how it needs to run operations successfully without Western help.

    Dr Mamdouh G Salameh
    International Oil Economist
    Global Energy Expert

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