Turkey (File)
The European Union has ramped up its pressure on Russia with the introduction of its 17th sanctions package, aiming to further restrict Moscow's ability to finance and sustain its war in Ukraine. This time the EU has not limited itself to Russia but has also targeted those countries which are indirectly supporting Russia's military activities. Many Turkish companies are prominently included in this list, which were helping Russia by bypassing the sanctions.
A total of 31 companies have been included in this new package issued by the EU, of which 13 companies are located outside Russia. Six Turkish companies are at the top of this list. Apart from these, three companies from Vietnam, two from the UAE and one each from Serbia and Uzbekistan have also been brought under the purview of sanctions. This indicates that now the EU is serious about taking action against Russia's external allies as well.
Another major aspect of this package is action against Russia's 'shadow fleet', a network of ships that were secretly engaged in supplying Russian oil despite sanctions. The EU has now blacklisted 189 more ships, taking the total number of banned ships to 342 so far. These ships will not be allowed to come to European ports or avail any kind of service.
The European Union has expanded its sanctions list to include 17 individuals and 58 organizations, notably Russia's prominent shipping company, Volga Shipping. These new measures entail asset freezes and bans on economic activities. The impact of these sanctions is evident, with a significant 76% decline in global shipments of Russian crude oil. By targeting entities and individuals supporting Russia's military activities, the EU aims to further pressure Russia amid the ongoing conflict in Ukraine. This move is part of a broader effort to disrupt Russia's economic and military operations.
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