- Expansion of Sanctions: The 16th sanctions package targets key sectors of the Russian economy, including energy, transport, and finance, and addresses circumvention tactics by introducing anti-circumvention measures and expanding restrictions on specific entities and industries.
- E-Commerce and Export Restrictions: New restrictions include a complete ban on temporary storage of Russian crude oil in EU ports, limitations on dual-use exports, and prohibitions on providing goods and services for Russian oil and gas projects, enhancing oversight on compliance.
- Strengthening Financial Measures: The package adds numerous financial institutions to the sanctions list, prohibits specialized financial services, and focuses on preventing transactions that facilitate the circumvention of existing sanctions, demonstrating the EU’s commitment to reducing Russia’s military capabilities and supporting Ukraine.
Source ec.europa.eu
