The European Commission has welcomed the Council’s formal adoption of the EU’s 17th sanctions package against Russia, reinforcing pressure on Moscow as its war against Ukraine continues. The new measures intensify restrictions on Russia’s access to military technology and energy revenues, especially targeting the so-called “shadow fleet” used to bypass sanctions on oil exports.
The package blacklists 189 additional vessels involved in oil smuggling, bringing the total to 342. These ships are now barred from EU ports and denied maritime services, making it increasingly costly for Russia to maintain its oil trade. This is the most extensive maritime sanctions action by any G7 nation to date. According to the Oil Price Cap Coalition, Russian oil transported via sanctioned ships has dropped by 76%.
Additionally, 31 new companies aiding Russia’s military or sanctions evasion have been sanctioned – including entities based in Russia, Turkey, Vietnam, the UAE, Serbia, and Uzbekistan. The list also expands to 75 new individuals and entities involved in undermining Ukraine’s sovereignty, including a major Russian shipping firm and those looting cultural heritage in occupied territories.
Key trade restrictions include new bans on dual-use and military-related items such as chemical precursors used in missile fuel and components of high-precision CNC machinery. These aim to cripple Russia’s industrial and technological capabilities.
A one-year extension has been granted for Japan’s exemption from the oil price cap on crude from Russia’s Sakhalin-2 project, ensuring Japan’s energy security.
The EU emphasises that these sanctions are achieving their intended effect. Russia’s oil and gas revenues have plummeted from €100 billion in 2022 to just €22 billion in 2024, while inflation has soared above 10%, with interest rates at 21% and the national wealth fund drained by 65% since the war began.
As Russia continues seeking ways to circumvent sanctions, the EU pledges ongoing vigilance and international cooperation, particularly through the G7 and coordinated efforts led by EU Sanctions Envoy David O’Sullivan.
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