Economic reports or analyses from reputable financial institutions or news outlets

EU Adopts 15th Sanctions on Russia, Targeting Shadow Fleet and 84 Entities

Dec 16, 2024, 10:25 AM

The European Union has adopted its 15th package of sanctions against Russia on December 16, targeting 84 individuals and entities from Russia, China, North Korea, India, Iran, Serbia, and the UAE. The new measures focus on the Russian 'shadow fleet' or 'ghost fleet' of tankers involved in transporting energy resources to circumvent previous EU sanctions. The sanctions include restrictions against 54 individuals and 30 organizations, including two senior North Korean officials. The sanctions also target Chinese companies, aiming to counter sanction evasion and weaken Russia's military-industrial complex and 'war machine'. The measures are part of the EU's response to limit Russia's ability to continue its aggression against Ukraine.