EU, UK Announce New Sanctions Targeting Russian Oil, Arms Supplies

The European Commission is set to present its 19th sanctions package against Russia, targeting the shadow fleet involved in oil transportation, the Russian banking system, and imposing additional oil sale restrictions, with consideration to blacklist certain Central Asian banks and Chinese oil refineries to further isolate Russia economically. Since 2022, the EU estimates these sanctions have cost Russia approximately $450 billion, though Hungary has recently obstructed the automatic renewal of sanctions due to political support from US President Donald Trump. Concurrently, the United Kingdom, led by Foreign Secretary Yvette Cooper during her visit to Kyiv, announced new sanctions targeting 70 additional oil tankers in Russia's shadow fleet and 30 entities supplying military equipment, including companies based in China and Turkey. These UK measures respond to Russia's aggressive missile and drone attacks on Ukraine and aim to sever financial flows critical to Russia’s military operations. The UK government emphasized its leadership in sanctioning the shadow fleet, and the sanctions have caused diplomatic tensions, with China disputing the legal basis of the sanctions on its companies. Both the EU and UK actions reflect a coordinated effort to increase economic and military pressure on Russia as it continues its war against Ukraine.