Agreement on 14th sanctions package against Russia.

The EU has finally agreed a 14th sanctions package. This time the package includes: LNG (with some modifications), oil tankers, dual-use technologies, shadow fleet and shadow banks.

Finally, Russia is banned from LNG transshipment, oil transport and helium exports. The founder of the Russian Copper Company, Igor Altushkin, the CEO of the Institute for the Development of the Internet, Alexei Goreslavsky, and the founder of Baltika, Taimuraz Bolloyev, are subject to personal sanctions.

“This hard-hitting package will further deny Russia access to key technologies. It will strip Russia of further energy revenues. And tackle Putin’s shadow fleet and shadow banking network abroad” claimed Ursula von der Leyen, the President of the European Commission.

Incidentally, this is the first time that sanctions have been imposed on LNG. European companies will be able to import it from Russia, but not re-export it to other countries. Arctic LNG-2, the Ust-Luga port complex and Murmansk LNG are subject to sanctions. There are no details on the shadow fleet yet, the decision is due within a week.

The EU has indeed prepared a strong package of sanctions, provided new targeted measures and maximised the impact of existing sanctions by closing loopholes. But Putin’s aggression and Russia’s daily war crimes demand a much tougher response.

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