The EU Council has imposed new sanctions against five individuals and four companies that support Russia’s shadow fleet. The aim is to further restrict income from oil transportation and prevent risky shipping practices.
The Council has imposed additional sanctions on five individuals and four entities responsible for supporting the Russian shadow fleet and its value chain. The aim is to further restrict Russia’s ability to generate revenue.
According to the EU, the individuals listed are businessmen directly or indirectly linked to the major Russian state oil companies Rosneft and Lukoil. They are all active in an economic sector that represents a significant source of income for the government of the Russian Federation. They also control ships that transport crude oil or petroleum products originating in Russia or exported from Russia. The actual origin of the oil is concealed and irregular and risky shipping practices are used.
Shipping companies affected
The targeted entities are shipping companies based in the United Arab Emirates, Vietnam and Russia. They own or operate tankers that are subject to restrictive measures by the EU or other states because they are part of the Russian shadow fleet and that transport crude oil or petroleum products using irregular and risky shipping practices.
The designated persons and entities are subject to an asset freeze. EU citizens and companies may not provide them with any financial resources. The individuals concerned are also subject to a travel ban, which prohibits them from entering or transiting through EU member states. In total, the sanctions apply to more than 2,600 individuals and entities targeted in response to Russia’s ongoing, unjustified and unprovoked war of military aggression against Ukraine.
The relevant legal acts were published in the Official Journal of the European Union.
