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EU announces new 14th package of sanctions against 116 Russian individuals and entities

24 June, 2024 Monday
15:12

On Monday, June 24, the EU Council approved the 14th sanctions package targeting Russia's energy, finance, and trade sectors, aimed at tougher enforcement

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The institution's website reported the information.

“The 14th package of sanctions demonstrates our unity in supporting Ukraine and seeking to limit Russia’s criminal activities against Ukrainians, including efforts to circumvent EU measures,” Josep Borrell, High Representative for Foreign Affairs and Security Policy stated.

The restrictions will apply to an additional 116 individuals and legal entities, “responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine”.

Under the new package of sanctions, the EU will ban re-export services for Russian LNG within the EU for transportation to third countries. 

In addition, the EU will ban new investments, as well as the provision of goods, technology and services for the completion of LNG projects such as Arctic LNG 2 and Murmansk LNG. 

The EU also imposes a ban on the use of the ‘System for Transfer of Financial Messages’ (SPFS), a specialized financial messaging service developed by the Central Bank of Russia to neutralize the effect of restrictive measures. EU entities operating outside of Russia will be forbidden from connecting to the SPFS or equivalent specialized financial messaging services.

And the EU media, political parties and analytical organizations are prohibited from accepting funds from Russian sources.

A ban was also imposed on access to ports and the provision of services to ships "contributing to Russia’s warfare against Ukraine." These are vessels that transport weapons for Moscow, stolen Ukrainian grain, or components for the development of energy facilities. It also includes 27 tankers from Putin's so-called shadow fleet.

The sanctions list includes 61 organizations from Russia, China, the UAE, and Turkey that help the Russian military-industrial complex, including third countries. They are subject to tighter restrictions on the export of dual-use goods and goods that strengthen the Russian defense sector.

The EU has banned its airlines from operating charters and private flights around the world at the request of individuals and legal entities from Russia. Trade restrictions, including a ban on imports of helium from Russia and a ban on exports of manganese ores, a number of plastics, rare earth elements, and electronic components.

  • On June 20, European Union countries agreed on the 14th package of sanctions against Russia, despite Germany's delay in approving new bans.
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