The European Commission has proposed sanctioning another 118 vessels linked to Russia’s shadow fleet, raising the total to more than 560, while also directly targeting oil buyers in China and other third countries.
“To strengthen enforcement, we are now sanctioning 118 additional vessels from the shadow fleet. In total, more than 560 vessels are now listed under EU sanctions,” European Commission President Ursula von der Leyen said on Friday as she announced the EU’s 19th sanctions package.
Von der Leyen said the bloc is widening its reach to foreign refiners and traders supporting Russia’s oil exports.
“We are now going after those who fuel Russia’s war by purchasing oil in breach of the sanctions. We target refineries, oil traders, petrochemical companies in third countries, including China,” she said.
Energy majors Rosneft and Gazpromneft will now face a full transaction ban, with other Russian firms added to the asset freeze list.
The Commission said the measures come on top of three years of restrictions that have already driven Russian oil revenues from Europe down by 90%.
“It is time to turn off the tap,” von der Leyen said.
The EU also lowered the oil price cap to $47.60/bbl and pledged tighter enforcement against sanction evasion, extending restrictions to crypto platforms, foreign banks, and companies in special economic zones.
“Russia’s war economy is sustained by revenues from fossil fuels.
We want to cut these revenues,” von der Leyen said.
