New EU Sanctions Target Russian Entities with Asset Freezes and Travel Bans
EU foreign ministers are meeting in Brussels to finalize a new list of 250 sanctioned individuals linked to the war in Ukraine, while negotiations over the 21st sanctions package remain deadlocked....
EU foreign ministers are meeting in Brussels to finalize a new list of 250 sanctioned individuals linked to the war in Ukraine, while negotiations over the 21st sanctions package remain deadlocked.
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Individual Sanctions and Asset Freezes
The latest individual sanctions target those involved in the war against Ukraine, including personnel at detention centers holding prisoners of war and Ukrainian civilians. Those listed face travel bans and the freezing of their assets, while entities are prohibited from conducting business within the European Union.
According to a report by the International Partnership for Human Rights, Russia has been arbitrarily detaining Ukrainian civilians in occupied territories since the 2022 invasion, often holding them in long-term isolation without access to legal counsel or contact with their families.
Stalled Progress on the 21st Sanctions Package
Work continues on a separate 21st sanctions package, which remains stalled due to a lack of unanimity among member states. The proposal includes a travel ban for individuals fighting against Ukraine, though internal disagreements persist.
The urgency of the negotiations is tied to potential shifts in energy sanctions. The current impasse threatens to derail efforts to prevent the loosening of price caps on Russian seaborne oil.
The Dispute Over Russian Oil Price Caps
The 21st package aimed to delay the update of the price cap on Russian oil, which is currently set at 15 percent below the six-month market average. If the delay is not approved, the price limit could rise from $44 to $58 per barrel this Wednesday.
The European Commission proposed freezing the update until January to protect against market shocks, such as those caused by the closure of the Strait of Hormuz. While Greece, Cyprus, and Malta initially opposed the measure, diplomats suggest that Greece remains the primary holdout, with foreign ministers aiming to reach a resolution during Monday’s meeting.