EU Imposes New Sanctions on Russia Amid Ceasefire Standoff

The European Union has announced a new round of sanctions against Russia, warning of further measures if President Vladimir Putin continues to reject a proposed 30-day unconditional ceasefire. This latest package of sanctions comes just one day ahead of anticipated peace talks between Ukraine and Russia, set to take place in Turkey, a format previously endorsed by former U.S. President Donald Trump.

Ukrainian President Volodymyr Zelenskyy has publicly urged Putin to engage in direct negotiations, stating, “If Putin does not arrive and plays games, it is the final point that he does not want to end the war.” The Kremlin has yet to confirm Putin’s attendance in Istanbul.

The preliminary agreement on the sanctions, the 17th since February 2022, was reached during a meeting of EU ambassadors on Wednesday morning and is expected to receive formal approval from foreign affairs ministers next week. Notably, Hungary, which has previously opposed economic sanctions, did not block the latest measures, suggesting a consensus among EU member states.

European Commission President Ursula von der Leyen emphasized the need for continued pressure, stating, “This war has to end. We will keep the pressure high.” The new sanctions primarily target Russia’s “shadow fleet,” a collection of aging, uninsured vessels used to bypass Western restrictions on oil trade, a crucial revenue source for the Kremlin’s military operations in Ukraine.

These ships are suspected of engaging in deceptive practices, including falsifying data and conducting ship-to-ship transfers to obscure the origin of their oil. The EU has already sanctioned 153 tankers from this fleet, denying them access to EU ports, and the latest sanctions will increase that number to over 350.

In addition to targeting the shadow fleet, the new sanctions also blacklist 75 individuals and companies linked to Russia’s military industrial complex and over 30 firms accused of supplying dual-use goods banned by Western allies. Furthermore, exports of EU-made chemicals that could be utilized in missile production will be prohibited.

As the EU prepares to implement this 17th package, discussions about potential future sanctions are already underway. The lack of diplomatic progress has amplified calls for heightened economic pressure on Russia to compel Putin to agree to a ceasefire—a proposal the Kremlin has thus far dismissed.

“We can confirm that, in the absence of a ceasefire, we are indeed looking into further sanctions,” stated a Commission spokesperson on Tuesday. French President Emmanuel Macron identified Russia’s financial services and oil and gas sectors as potential targets for future sanctions, aligning with U.S. efforts.

Macron reiterated Europe’s aim to secure a thirty-day ceasefire to facilitate discussions on territorial issues and security guarantees. However, any new sanctions, particularly stringent measures, may face opposition from Hungary. Despite Hungary’s eventual agreement to renew existing sanctions, Brussels remains cautious, exploring alternative strategies to circumvent potential vetoes and ensure the continuation of the sanctions regime.

“We are exploring all options,” said Valdis Dombrovskis, the European Commissioner for Economy. “These discussions are challenging, but we have managed to agree on numerous sanction packages through the unanimity procedure. We need to keep all tools and options on the table.”