"This package provides new targeted measures and maximizes the impact of existing sanctions by closing loopholes," the Belgian Presidency of the EU Council said on social media.
European Union countries failed to approve a new sanctions package targeting the Russian gas industry after German authorities intervened to block the deal at the last minute.
The U.S. has proposed that a $50 billion loan to Ukraine could be repaid by profits from frozen Russian assets, on the condition that the EU agrees to extend sanctions against Russia until the end of the war, the Financial Times reported on June 5, citing a leaked EU discussion paper.
The European Council adopted new sanctions on May 31 targeting six individual and three entities from Iran who are involved in the transfer of drones to support Russia's war effort in Ukraine.
The European Union has established a new sanctions regime against Russia in connection with the death of Russian opposition leader Alexei Navalny and the "accelerating and systematic repression in Russia," the Council of the EU announced on May 27.
At Czechia's proposal, the EU has sanctioned former Ukrainian politician and pro-Russian oligarch Viktor Medvedchuk, the Czech Foreign Ministry said on May 27.
The European Union is considering imposing sanctions on Belarus as a way to close a trade loophole that has allowed Russia to import luxury cars and other banned goods produced in Western countries, the Financial Times reported on May 23.
The proposed sanctions would prohibit anyone in the EU from doing business with any financial institution that helps the Russian military purchase dual-use goods and technologies.
As Chinese President Xi Jinping toured Europe this week to discuss Ukraine and trade, China remains Russia's leading source of sanctioned dual-use goods, fueling the ongoing war. "Around 90% of the goods deemed high priority products by the Western countries... (was) supplied by China" as Chinese-made products or re-exported goods
The shadow fleet refers to aging and largely uninsured oil tankers that Russia uses to transport oil above the $60 per barrel price cap that the EU, the U.S., and the Group of Seven (G7) countries imposed in December 2022 as part of the effort to cut Moscow's fossil fuels revenue.
According to Bloomberg, the ban on Russian funding could impact far-right parties in Europe such as Germany's AfD and France's National Rally, both of which have previously been accused of links to Russia.
Kadri Simson also said the EU is preparing for a sudden end to the Russian gas supply when the transit contract between Ukraine and Moscow expires at the end of this year.
The EU executive body is proposing that the Voice of Europe media outlet be added to the upcoming 14th round of EU sanctions against Russia, the Vice-President of the European Commission, Vera Jourova, said on May 5, as reported by European Pravda.
The largest Western banks that continue to operate in Russia have paid 800 million euros ($857 million) in taxes to its budget in 2023, which is four times more than before Moscow's full-scale invasion of Ukraine, the Financial Times (FT) reported, citing its analysis.
The EU is assessing imposing sanctions against over a dozen companies that continue to supply Russia with weapons technology, such as navigation systems for missiles, Bloomberg reported on April 23.
The European Council in a statement released after the first day of a summit in Brussels condemned Iran's attack and expressed full solidarity with the people of Israel, reiterating its commitment to "Israel's security and regional stability."
Raiffeisen Bank in Austria announced its decision on April 16 to replace job advertisements that featured "misleading language," suggesting an expansion of the bank's operations in Russia.
The European Council approved the law on the prosecution of violation or circumvention of EU sanctions, mainly concerning the sanctions against Russia, the parliament's press service reported on April 12.
France has paid Russia 600 million euros ($644 million) for liquified natural gas (LNG) imports in just the first three months of 2024, making it the fastest-growing consumer of Russian LNG in the EU, Politico reported on April 11.
The EU Court of Justice ruled on April 10 to lift sanctions against Russian business tycoons Mikhail Fridman and Petr Aven, imposed in response to the Russian full-scale invasion of Ukraine.
"We have started preparing a 14th sanctions package, which should be adopted in spring," Commissioner Valdis Dombrovskis said at the "Standing with Ukraine: European Parliament's legacy for the sanctions regime" conference of the Socialists and Democrats parliamentary group in Brussels.
The EU has banned the Turkish airline Southwind from flying in its airspace due to links with Russia, Turkish newspaper Cumhuriyet reported on March 30.
The measure would impose a 95 euro ($103) per ton on corn and wheat, as opposed to zero tariffs imposed today, Business Insider reported. Other products, namely oilseeds, would be subject to an "ad valorem duty" of 50%.
European Commission will present a proposal next week on restricting Russian and Belarusian agricultural imports, Polish news outlet RMF24 reported on March 13, citing an anonymous EU diplomat.
The EU sanctioned Arkady Volozh in June 2022, arguing that Yandex promotes pro-government narratives and is complicit in Russia's war against Ukraine. Volozh resigned as CEO of Yandex after being sanctioned.
The new directive defines the circumvention of sanctions and ensures that it will be treated as an offense punishable by a prison sentence of up to five years in all member states.
This is the first sentencing in Finland related to violations of sanctions against Russia.
The EU now readies restrictive measures against 35 individuals, including prison and government officials and judges, Bloomberg wrote. The IK-3 and IK-6 penal colonies where Navalny was imprisoned are also reportedly included in the list.
Poland plans to ask the EU to impose sanctions on Russian and Belarusian agricultural products and foodstuffs, Polish Prime Minister Donald Tusk said on March 4.
Bulgaria halted Russian oil imports this week as part of the European Union's ban on Russian oil, thereby ending a two-year embargo exemption, the Bulgarian news outlet BGNES reported on March 1.
Despite extensive Western sanctions aimed at cutting off supply lines, Russia continues to obtain sanctioned goods, such as microchips, via third-party countries.
Latvia's Agriculture Minister Armands Krauze called on the European Union to add Russian foodstuffs to sanctions lists on Feb. 26, ahead of an EU Agriculture Ministers meeting in Brussels.
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