European Commission prepares new sanctions against Russia’s “shadow fleet”

Restrictions are being prepared against 150 tankers that help the Kremlin circumvent restrictions and continue to finance the war.

The EU is developing another — already the 17th — package of sanctions against Russia, which could significantly complicate the work of its “shadow” oil fleet. This is reported by Bloomberg.

The new restrictions may affect about 150 vessels involved in sanctions circumvention schemes, as well as 60 individuals and legal entities.

The total number of vessels under sanctions may exceed 300. The measures are currently under confidential discussion. The new initiative is aimed at reducing the Kremlin’s energy revenues — one of the key sources of financing the war against Ukraine.

EU foreign ministers are expected to formally consider and may adopt the new package before their meeting in Brussels on May 20. However, the approval of the sanctions requires the consent of all 27 member states, which leaves room for changes. For example, Hungary has repeatedly threatened to veto sanctions decisions, although it eventually backed down.

Meanwhile, Brussels is studying mechanisms that would allow some sanctions to be adopted not unanimously, but by a qualified majority — for example, by converting some restrictions into trade measures.

The next update of the current sanctions is scheduled for July, so the new restrictions may also affect the further prolongation of measures already in force.

USM also recently wrote that Zelenskyy has imposed sanctions against the largest LNG producer and exporter in Russia.