The European Union is planning a 14th round of sanctions on Moscow for the full-scale Russian invasion of Ukraine, a senior EU official said on Friday.<\/p>\n
The new sanctions package includes punitive measures on individuals and organizations that assist efforts to circumvent existing EU sanctions on Russia, the senior EU official said.<\/p>\n
An EU diplomat said the punitive measures should consider oil tankers or the “dark fleet” that transport Russian oil despite existing sanctions in place to hinder this.<\/p>\n
New persons and organizations are to be hit with a freeze on their assets in the bloc, according to diplomats. The European Commission is to present proposals for the sanctions in the coming week.<\/p>\n
The 13th package of sanctions on Russia was adopted in February on the second anniversary of the war against Ukraine and targeted 106 individuals and 88 organizations.<\/p>\n
This included individuals involved in North Korea’s supply of arms to Russia and the North Korean defence minister.<\/p>\n
Multiple rounds of EU sanctions have been imposed on Russia targeting different sections of the economy that contribute to the Kremlin war on Ukraine.<\/p>\n
This extended to import bans on crude oil, coal, steel, gold, and luxury goods as well as well as punitive measures against banks and other financial institutions.<\/p>\n
In addition, trade restrictions were imposed on so-called “dual-use goods” that could contribute to the technological development of the Russian defence and security sector.<\/p>\n
Work continues on a plan to use a large part of the profits from the safekeeping of frozen Russian central bank funds in the EU to purchase military equipment for Ukraine.<\/p>\n