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Photo: RIA Novosti
The official portal on European Union law has published details of the 18th package of sanctions against Russia, which were announced on July 18. The sanctions target 22 Russian banks and more than a hundred tankers from the “shadow fleet.”
Most notably, the sanctions list includes T-Bank, Surgutneftegazbank, Yandex Bank, and Ozon Bank. Additionally, sanctions were introduced against 18 individuals and 41 companies. Among those placed under personal sanctions are Karen Shakhnazarov, CEO of the Mosfilm movie studio; Olga Burova, Deputy Head of the Ministry of Culture of annexed Crimea; and Tatiana Litvinenko, a shareholder of PhosAgro chemical holding. Among the sanctioned companies are Russian manufacturers of machinery and weapons, as well as foreign firms operating vessels of the “shadow fleet.” Several citizens of China, India, and Iran were also named.
In addition, the updated sanctions list includes 105 additional tankers from Russia’s “shadow fleet,” bringing the total number of vessels to 444, according to the European Commission’s press release.
The 18th package of EU sanctions bans the use of the Nord Stream pipelines and prohibits any transactions intended for the Russian Direct Investment Fund (RDIF) and its subsidiaries. The document describes the RDIF as an instrument used by Russia “to access global financial markets, circumvent EU sanctions, obtain foreign currency, sustain its war effort, [and] increase the resilience of its economy.”
The measures also lower the oil price cap from $60 to $47.60 per barrel and introduce a dynamic adjustment mechanism. The cap will depend on the average market price, with changes monitored by the European Commission.