EU Ramps Up Sanctions: Targeting Global Ports and Banks

The European Union has proposed extending its sanctions against Russia to include select ports in Georgia and Indonesia, marking the first such measures against third-country ports. This is part of the EU's 20th sanctions package over Ukraine, which also targets banks, metals, and new import bans.

The European Union is escalating its sanctions against Russia by proposing measures that target ports in Georgia and Indonesia. This marks a significant expansion as it's the first time EU sanctions will include ports outside of Russia, according to a document reviewed by Reuters.

The proposed sanctions would restrict business dealings between EU entities and the ports of Kulevi in Georgia and Karimun in Indonesia. This move is part of the EU's 20th sanctions package, drafted by its diplomatic service and the European Commission, in response to Russia's ongoing conflict in Ukraine.

The package also introduces new import bans on several metals and proposes restrictions on metal-cutting and communications equipment sales to Kyrgyzstan. Added to the sanctions list are several banks providing crypto services to Russia, as well as 30 individuals and 64 companies including Bashneft and eight Russian refineries.