The EU is preparing more than 100 new sanctions against Russia — Bloomberg

The European Union is preparing more than 100 new sanctions against Russia. The restrictions could affect banks, energy companies, and tankers that transport Russian oil in circumvention of existing regulations. According to Bloomberg, EU foreign ministers may consider these measures as early as November 16.

 

The European Union plans to impose more than a hundred new sanctions. The restrictions may target three main sectors:

• The banking sector. The EU plans to increase pressure on Russian financial institutions.
• Energy. Sanctions may affect Russian energy companies.
• The shadow fleet. The restrictions will apply to tankers transporting Russian oil in an attempt to circumvent international sanctions.

According to Bloomberg sources, the new measures are linked not only to Russia’s war against Ukraine but also to the rise in hybrid attacks attributed to Moscow. These include, in particular, cyberattacks, arson, and an attempted drone attack on an airport in Germany. Such actions are viewed as part of a broader threat to the security of European countries.

EU foreign ministers are expected to discuss and possibly approve the new restrictions during a meeting in Brussels on November 16. However, the final decision will depend on agreement among EU member states regarding the sanctions.

The EU is preparing its 22nd sanctions package

At the same time, the European Union is working on its 22nd sanctions package against Russia. According to Bloomberg sources, it could be adopted during a meeting of foreign ministers in December.

Thus, Brussels is preparing several measures at once to increase economic pressure on Moscow. Among the main areas of focus are limiting energy revenues, complicating the operations of Russian banks, and combating tankers that help transport oil in circumvention of sanctions.

For now, these are plans reported by the publication’s sources. The final list of restrictions and the timeline for their implementation will become clear following decisions by EU member states. Bloomberg reports on the preparation of new restrictions, citing anonymous sources familiar with the discussions.

At a meeting of the Committee of Permanent Representatives on November 11, EU ambassadors tentatively agreed to add 145 individuals and entities involved in aggression, cyberattacks, and hybrid activities to the sanctions lists against Russia. 

EU ambassadors approved a new package of restrictive measures against Russia, which includes more than 140 individuals and entities.  “They are scheduled to be finalized at the EU Foreign Affairs Council meeting on November 16,” a European diplomat told reporters.