Brussels: The European Union adopted Monday the 16th package of economic and individual restrictive sanctions against Russia on the third anniversary of the Russia-Ukraine war.
According to Kuwait News Agency, the new sanctions target vital sectors of the Russian economy, including what is known as the Russian shadow fleet, trade, finance, and banking. EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, stated that Russia has continued for three years to "relentlessly bomb Ukraine in an attempt to steal land that isn't theirs to take." She noted that the sanctions target not only the Russian shadow fleet but also those supporting unsafe oil tankers, banks circumventing sanctions, and propaganda outlets.
The sanctions package adds 83 individuals and entities to the list responsible for actions undermining Ukraine's territorial integrity. The European Union has also expanded the list of vessels subject to port access bans and prohibited services related to maritime transport.
The EU's statement highlighted a transaction ban on financial institutions outside Russia using the Central Bank of Russia's "Financial Message Transfer System" (SPFS). Additionally, 53 new entities were added to the list of those supporting Russia's military-industrial complex in its war efforts.