EU Approves 16th Sanctions Package Against Russia, Adds 73 Ships To Blacklist

The European Union has agreed on its 16th package of sanctions against Russia to increase pressure on Moscow, as the third anniversary of its full-scale invasion of Ukraine approaches.

The package approved by EU envoys on February 19 is expected to be formally adopted by EU foreign ministers on Monday.

Some of the key measures in the sanctions package include:

Aluminium Ban-The EU will ban imports of primary Russian aluminium. A transition period will allow limited imports of up to 275,000 tonnes before the ban takes full effect a year after the legislation is published in the EU’s Official Journal next week.

Oil and Gas Restrictions- Seventy-three additional vessels, mostly oil tankers, have been blacklisted, bringing the total number of restricted ships to 152.

Transactions with Russian ports and airports involved in circumventing the oil price cap or transferring drone and missile components are prohibited.

A service ban has been int…

CONTINUE READING THE ARTICLE FROM MarineInsight HERE