EU Tightens Grip: New Sanctions Target Shadow Fleet and Banks

The European Commission proposes a 19th package of sanctions against Russia, targeting shadow tanker fleets, banks, and tightening measures on Russian oil. The plan may also blacklist banks in Central Asia and Chinese refineries as part of efforts to penalize Russia for its actions in Ukraine.

The European Commission is preparing to unveil a new proposal on Wednesday for its 19th sanctions package against Russia, according to EU diplomats.

The announcement, set to exert further pressure in response to Russia's full-scale invasion of Ukraine, will focus on the country's shadow tanker fleet and banking systems, alongside additional restrictions on Russian oil sales, as highlighted by EU chief diplomat Kaja Kallas on X.

The Commission is also contemplating the possibility of blacklisting certain banks in two Central Asian countries, in addition to independent Chinese oil refineries, as part of its ongoing efforts to isolate Russia economically.