The European Union (EU) adopted its 15th sanctions package aimed at crippling Russia’s ability to wage war on Ukraine on Monday, Dec. 16, according to the press service of the European Council.
This 15th package of sanctions targets individuals, entities, and practices that support Russia’s war of aggression against Ukraine. The measures include new listings, restrictions on maritime transport, tighter trade controls, and protections for European companies.
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It includes sanctions against 84 named targets, comprising 54 individuals and 30 entities.
Individuals include:
Members of the military unit responsible for the attack on Kyiv’s Ohmtadyt children’s hospital. Senior managers from major energy companies. Those involved in child deportations, propaganda, and sanctions circumvention. Two senior officials from North Korea.
Entities:
Russian defense and shipping companies profiting from crude oil and oil product transportation. A chemical plant and a civil Russian airline providing logistical support to Russia’s military.
For the first time, Chinese companies supplying drone and microelectronic components for Russia’s war effort have been sanctioned, with full measures including travel bans and asset freezes.
The EU has added more vessels to its port access ban and prohibited a range of maritime transport services. These measures target non-EU tankers circumventing the oil price cap or aiding Russia’s energy sector alongside vessels transporting military equipment for Russia or stolen Ukrainian grain. A total of 52 additional ships have been sanctioned, raising the number of embargoed vessels to 79.
The EU has expanded export restrictions on 32 entities directly supporting Russia’s military-industrial complex. These include organizations from China, India, Iran, Serbia, and the UAE involved in trade circumvention or procurement of sensitive items such as drone and missile technology.
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To protect EU businesses from legal disputes with Russian entities, the EU will no longer recognize or enforce court rulings based on Russia’s Arbitration Procedure Code Article 248. This prevents Russian-imposed penalties from being executed against EU operators.
Additionally, the EU’s central securities depositories (CSDs) are now allowed to unfreeze cash balances to meet legal obligations.
The EU extended deadlines for specific divestments from Russia, enabling operators to exit the Russian market efficiently and safely. These extensions will be granted on a case-by-case basis by member states.
In early December, EU member states were unable to approve the 15th package of sanctions on Russia, which included a proposed extension for the Czech Republic to continue importing Russian oil-based products via Slovakia, according to diplomats.
The delay was caused by two member states blocking the proposal due to disagreements over the timeline for European companies to disinvest from Russia, the diplomats added.
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Publish date : 2024-12-16 22:12:00
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The post EU’s 15th Sanctions Package Targets Chinese and North Korean Companies first appeared on Love Europe.
Author : love-europe
Publish date : 2024-12-17 10:04:07
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