EU adopts 16th sanctions package against Russia
Targets key sectors of the Russian economy, including energy, trade, transport, infrastructure, and financial services
The European Commission (EC) today announced the adoption of the European Union's 16th sanctions package against Russia.
According to the EC release, the 16th sanctions package targets key sectors of the Russian economy, including energy, trade, transport, infrastructure, and financial services, and introduces measures to prevent sanctions circumvention. Provisions from this package are also mirrored in the Belarus sanctions regime. Additionally, the EU has updated its sanctions concerning Crimea, Sevastopol, and non-government controlled areas in Ukraine.
Key elements of the package include:
- Anti-circumvention measures targeting additional vessels and companies
- New trade restrictions on Russian aluminum and dual-use items
- Expanded energy and transport prohibitions
- Full transaction ban on specific Russian infrastructures
- Strengthening of financial sector measures by listing additional financial institutions and cryptoasset providers involved in sanctions circumvention
- Suspension of broadcasting activities of eight media outlets supporting and justifying Russia's war efforts