The European Union has approved a 17th package of sanctions against Russia, aimed at increasing pressure on the Russian economy and limiting opportunities to circumvent previously imposed restrictions. A key element of the new package is the introduction of sanctions against Russia’s so-called “shadow fleet” — a network of ships used to circumvent sanctions and export oil.
Sanctions against the “shadow fleet”
As part of the new sanctions package, the EU has imposed restrictions on around 200 vessels linked to Russia’s “shadow fleet.” These vessels, often old and poorly insured, are used to transport Russian oil in circumvention of the restrictions in place, including a price cap of $60 per barrel.
Sanctions against companies and individuals
The new sanctions package also includes:
31 companies involved in arms supplies and sanctions evasion.
75 individuals linked to the Russian military-industrial complex, including judges involved in cases against opposition figures.
Financial institutions supporting Russia’s military actions.
Protection of critical infrastructure
The EU has also imposed sanctions on organizations and individuals involved in cyberattacks, human rights violations, and sabotage of critical infrastructure, including submarine cables and energy facilities.
Outlook
Despite the introduction of the 17th package of sanctions, additional measures are being discussed, including the possible introduction of 500% tariffs on Russian oil imports to countries that continue to purchase it. Restrictions on imports of liquefied natural gas (LNG) from Russia are also being considered.
The Coalition of the Willing will continue to support Ukraine if Russia refuses to agree to a 30-day ceasefire and is ready to strengthen sanctions, German Chancellor Friedrich Merz said.
“If Russia refuses to agree to a ceasefire, which would be the basis for negotiations that could begin immediately, then we will continue to defend Ukraine and we will continue to increase pressure on Russia,” Merz said at a joint press conference with leaders of the Coalition of the Willing in Kyiv on Saturday.
According to him, almost all EU members and representatives of the Coalition of the Willing are ready to impose sanctions if Russia does not accept their initiative. “We are all working to ensure that Russia finally agrees to a ceasefire and does not put forward any conditions, again and again,” Merz said.
He also recalled that prior to today’s summit, the leaders of the Coalition of the Willing had communicated with US President Donald Trump and informed him personally of the results immediately after the meeting.
“We are grateful to the US president for fully supporting our initiative, sharing it, and being fully involved in it,” Merz emphasized.
The National Security and Defense Council of Ukraine has decided to impose sanctions against a number of Ukrainian businessmen and politicians, Ukrayinska Pravda reports, citing sources in the NSDC.
“At a meeting on February 12, the National Security and Defense Council imposed sanctions against businessman Ihor Kolomoisky, billionaire Kostyantyn Zhevago, former co-owner of Privatbank Hennadiy Boholyubov, the 5th President of Ukraine, MP of the European Solidarity Party Petro Poroshenko, and former MP from the banned OPFL, accused of treason, Viktor Medvedchuk,” the report said.
The publication emphasized that several other representatives of the National Security and Defense Council confirmed this information. As reported, the European Solidarity party announced the sanctions against Poroshenko at a meeting of the National Security and Defense Council. There is currently no official information on the results of the NSDC meeting.
At a meeting of the National Security and Defense Council (NSDC) on Wednesday, sanctions were imposed against MP and opposition leader Petro Poroshenko, the European Solidarity party said in a statement.
“The National Security and Defense Council has just made an unconstitutional, politically motivated decision to impose sanctions against me, Petro Poroshenko, as the leader of the opposition and the fifth president, with absolutely illegal restrictions. This crime has many accomplices: Zelenskyy’s entire team, the Cabinet of Ministers, which was ‘bent’ to the absurd request, and members of his National Security and Defense Council, who quietly raised their hands,” Poroshenko said in a video address.
The Cabinet of Ministers has adopted a draft law “On Amendments to the Law of Ukraine ‘On Sanctions’ on the Prohibition of the Use of Software Products and Access to Electronic Information Resources,” which, in particular, proposes to ban electronic websites in Ukraine developed by foreign persons subject to sanctions, according to Taras Melnychuk, a representative of the Cabinet of Ministers in the Verkhovna Rada.
According to his message on the telegram channel, “the draft law proposes to amend the Law of Ukraine ‘On Sanctions’ by defining new types of sectoral sanctions, in particular, a ban on the distribution and use of software products on the territory of Ukraine by legal entities whose components originate in a foreign country, which has been sanctioned under the Law of Ukraine “On Sanctions”, or whose developer or copyright holder is a legal entity (individual) resident of such a foreign state or a legal entity whose share in the charter document is foreign, as well as a ban on the use of electronic websites.
In addition, it is proposed to prohibit the use of software products from entities engaged in terrorist activities, or whose developers or copyright holders are foreign legal entities or individuals subject to sanctions.
Sanctions may also be imposed on software products created using the source or object code of software products or their components subject to sanctions; access to electronic information resources on the Internet (web pages, websites, other web resources), electronic communication networks, electronic communication systems, information systems, information and communication systems may be prohibited.
Cyprus-based International Distribution Systems Limited, the owner of Ukraine’s largest mineral water producer IDS Ukraine, has been subject to Ukrainian sanctions: asset freezes, prevention of capital outflows abroad, and a ban on increasing the authorized capital of related Ukrainian companies.
President Volodymyr Zelenskyy’s Decree No. 739 of November 7 on the implementation of the sanctions adopted by the National Security and Defense Council on the same day was published on the President’s website.
The decree imposes similar sanctions on eight more companies: four – Sogeral Foundation, Haberfield Limited, Slavisilla Holdings Limited, and Dendar Investment Fund Limited (all based in Cyprus) – for a period of 10 years, while IDS Limited and four others are subject to two-year sanctions.
The latter also include Alfa Finance Holdings Limited, Erasmony Limited, Rissa Investments Limited and CTF Holdings S.A.
Most of these companies are associated with Mikhail Fridman and other co-owners of the so-called Alfa Group, as evidenced, in particular, by the data disclosed earlier in Russia on the scheme of interaction between the participants of the management company Alfa Capital Management Company LLC, under whose control or significant influence this management company was. The list includes Peter Aven, German Khan, Andrei Kosogov, Alexei Kuzmichev and the former minority shareholder of Sense Bank, The Mark Foundation for Cancer Research. Friedman and his partners were previously included in the Ukrainian sanctions list.
As reported, the Ukrainian legislation adopted during the war allows the High Anti-Corruption Court to seize the assets of sanctioned persons to the state revenue.
