Europe Launches 20th Sanctions Round Against Russia
In the wake of reduced Hungarian opposition following recent elections, the European Union has been able to move forward with its $106 billion loan facility for Ukraine. At the same time, the EU has also been able to promulgate its 20th sanctions round targeting Russia and its actions in Ukraine, a package of much wider scope than its predecessors, and a package with a wide impact on the shipping community.
Continuing as before, the EU has sanctioned a further 46 ships. But the EU has also banned the sale (and future resale) by EU entities of any tankers to Russia, so as to prevent the build-up of a Russian-flagged dark fleet, a move that may have precipitated the sale of a number of tankers to Russia before the ban came into force.
With these additions, there are now a total of 632 vessels in the designated Russian shadow fleet, all of which are now banned from making port calls or receiving marine or maintenance services in the EU. A number of ship management and service companies looking after dark fleet vessels in third countries have also been sanctioned.
The EU is also sanctioning any use of the Russian ports of Murmansk and Tuapse, plus the Karimun Oil Terminal in Indonesia.
In the financial sector, EU operators have been banned from dealing with an additional 20 banks in Russia, making now a total of 70, plus four banks in Kyrgyzstan, Laos, and Azerbaijan. A total sectoral ban has been imposed on all Russian crypto asset service providers, use of the RUBx stablecoin and the digital rouble backed by the Central Bank of Russia, plus on any payment service providers who facilitate transfers through third countries to Russia.
New export bans have been imposed on a range of Russian-manufactured goods, including rubber, tractors, explosives, lubricants, metals, chemicals, and minerals. A further 58 Russian companies manufacturing weapons-associated materials have been added to the sanctions list, as well as 60 third-country entities based in Belarus, China, Hong Kong, Kazakhstan, Thailand, Türkiye, the UAE, and Uzbekistan involved either in the manufacture or sourcing of components for Russian weapons systems.
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An additional 33 individuals and 83 entities have been subject to sanctions and travel bans.
While the EU sanctions packages cover all EU member countries, enforcement is primarily the responsibility of individual countries. A number of countries have been particularly active in enforcement, making up for a number of others who have been somewhat slack. Of particular note, joining the robust stance taken by Nordic countries, the Netherlands is introducing emergency legislation to permit the interception and seizure of suspicious or falsely-flagged ships. Although not part of the EU, the United Kingdom is a weak link with regard to enforcement in Europe, having never attempted an interception because of the Attorney General's legal concerns. The tighter enforcement environment closing in on the Russian dark fleet has also been aided by the International Maritime Organisation’s adoption of new verification rules to curb the false-flagging of ships.
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