Yesterday, the Council of the European Union targeted five individuals and four companies deemed responsible for helping Moscow circumvent Western sanctions on crude oil exports that help finance Russia’s war in Ukraine.
The individuals listed are businessmen linked, directly or indirectly, to the major Russian state-owned oil companies Rosneft and Lukoil. They are all involved in an economic sector that provides a substantial source of revenue for the Russian Federation government. In addition, they control vessels transporting crude oil or petroleum products originating in or exported from Russia, concealing the actual origin of the oil and engaging in irregular and high-risk shipping practices.
Businesses targeted today are shipping companies based in the United Arab Emirates, Vietnam and Russia. They own or operate tankers subject to restrictive measures imposed by the EU or other countries as they are part of the Russian shadow fleet, and transport crude oil or petroleum products using irregular and high-risk shipping practices.
Those designated are subject to an asset freeze, and EU citizens and companies are prohibited from making funds available to them. Individuals listed are also subject to a travel ban, which prevents them from entering or transiting through EU Member States. The sanctions apply to over 2,600 individuals and companies targeted in response to Russia’s ongoing, unjustified and unprovoked military aggression against Ukraine
Translation by Giles Foster