EU Ambassadors approve 16th package of sanctions against Russia

EU ambassadors have agreed on a new package of sanctions against Russia, continuing efforts to target Moscow over its ongoing invasion of Ukraine. The measures, which mark the 16th round of sanctions since 2022, are expected to be formally approved by EU foreign ministers on February 20 and come into force on February 24 – the third anniversary of Russia’s full-scale invasion.

According to international reports, the latest sanctions will introduce a phased ban on EU purchases of Russian aluminum products and further tighten restrictions on Russian oil exports. The package also includes measures against 73 tankers from Russia’s so-called “shadow fleet,” allegedly used to bypass existing oil trade restrictions.

Additionally, 13 Russian banks are set to be blacklisted under the new measures, with earlier reports suggesting that the restrictions could extend to 15 financial institutions, including Uralsib and Tochka. The EU is also expected to sanction the operator of Zolotaya Korona, a popular money transfer service, as part of broader financial restrictions.

In a continued effort to curb Russian influence, the EU plans to impose restrictions on Russian media outlets accused of spreading propaganda within the bloc.

Meanwhile, US Secretary of State Marco Rubio, who recently led a US delegation in negotiations with Russian representatives in Saudi Arabia, reassured European allies that Washington will maintain its sanctions on Moscow until a peace agreement is reached, according to Bloomberg.