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FINWIRES

EU Sanctions 46 More Vessels Linked to Russia's Shadow Oil Fleet

-- The European Union has imposed sanctions on 46 more vessels in Russia's shadow fleet, bringing the total number of designated vessels to almost 632, the European Commission said on Friday.

Europe, which has imposed 20 packages of sanctions against Russia, said the ships are now banned from entering EU ports and can no longer receive maritime transport services.

The EU introduced new safeguards on tanker sales to prevent EU-built or sold vessels from entering Russia's shadow fleet, including mandatory contractual clauses barring Russian use.

The bloc also banned maintenance services for Russian LNG tankers and icebreakers and moved to allow EU companies to exit long-term contracts at LNG terminals.

The Commission said the EU's latest sanctions package also targeted Russia's Murmansk and Tuapse ports.

For the first time, the EU blacklisted a third-country facility, Indonesia's Karimun Oil Terminal, for links to sanctions circumvention.

The package also lays the groundwork for a future ban on maritime services transporting Russian oil, pending coordination with the Group of Seven.

Financial measures extend restrictions to 20 additional Russian banks, bringing the total cutoff from the EU market to 70. The EU also targeted lenders in Kyrgyzstan, Laos, and Azerbaijan, accusing them of facilitating transactions that bypass sanctions or connect to Russia's domestic financial messaging system.

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