EU Intensifies Economic Pressure on Russia: New Sanctions Target Oil Circumvention

As the conflict in Ukraine intensifies, the European Union has implemented its 17th package of sanctions against Russia, aiming to further disrupt the Russian economy. This latest move focuses on a key logistical pillar for oil circumvention – the ‘Russian ghost fleet’ – a network of nearly 200 vessels used to evade restrictions on oil trade. This action, coordinated with the UK, marks a significant escalation in the economic war against Moscow. By targeting these opaque networks financing the Russian military effort and pressuring its foreign supporters, the EU seeks to weaken Russia’s logistical and economic capabilities in the long term.