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EU adopts 16th sanctions package against Russia

Date of publication: February 28th, 2025
On February 23, 2025, The European Union (EU) announced adoption of its 16th Sanctions Package against Russia in response to its ongoing aggression in Ukraine. This package aims to increase pressure on Russia by targeting critical sectors of its economy, such as energy, trade, transport, infrastructure, and financial services.
The EU has targeted a cryptocurrency exchange for the first time.
Key elements of the package include:
  • Anti-circumvention measures targeting
    74 additional vessels
     linked to Russia's energy revenues, bringing the total number of listed vessels to 153.
  • The package imposes targeted export restrictions on
    53 new companies
     supporting Russia's military-industrial complex or engaged in sanctions circumvention (34 of these companies are in countries other than Russia).
  • New listings of
    83 individuals and entities
     involved in military support or sanctions evasion, Russian crypto assets exchanges and the maritime sector.
  • Infrastructure measures, including
    six airports
     and
    five ports and locks
     were also included.
  • Expanded trade restrictions, including
    a direct ban on imports of Russian primary aluminium
     (this is in addition to the existing prohibitions on aluminium goods).
    • To ensure a smooth transition for businesses, a quota mechanism has been introduced, allowing 275,000 tons, which equates to 80% of EU imports in 2024, to be used over a 12-month period
  • Extension of export bans to limit Russia’s access to key technologies including:
    • Dual use chemical precursors that can be used as chemical weapons
    • Software related to Computer Numerical Control (CNC) machine tools used for manufacturing weapons and piloting drones
    • Chromium ores and compounds
    • Further export restrictions have been introduced on industrial goods, specifically targeting minerals, chemicals, steel, glass materials, and fireworks, with special military significance
    • Limited derogations/exceptions have been further clarified and tightened
  • Energy measures
    prohibiting Russian crude oil storage
     and extending restrictions to projects like the
    Vostok oil project.
  • Transport measures preventing increased Russian ownership in EU road transport and
    banning third-country carriers that support Russia's domestic flights from flying in the EU
    .
  • Financial sanctions
    targeting smaller banks
     and crypto asset providers facilitating sanctions circumvention.
  • Disinformation measures,
    suspending eight media outlets
     from broadcasting in or directed at the EU.

Conclusion

The 16th EU sanctions package represents a strong commitment to further isolating Russia economically, weakening its war-funding capabilities, and strengthening international pressure for a resolution to the conflict in Ukraine.
It is essential to stay informed about these evolving sanctions and regulations to ensure that your company operations remain in compliance with international laws. It has been clearly noted that Russia is actively attempting to circumvent these sanctions. As a result, the EU is committed to redoubling its efforts, as well as asking third countries for cooperation in this effort. As part of this cooperation, and working with like-minded partners, they have agreed to a list of Common High Priority sanctioned goods, to which companies should pay particular attention when conducting their due diligence (and which third countries should not allow re-export to Russia).
In addition, within the EU, we have also drawn up a list of sanctioned goods that are economically critical and toward which businesses and third countries should be especially vigilant.
The continued expansion and tightening of sanctions are seen as key tools in supporting Ukraine and ensuring Russia faces increased consequences for its actions.
These changes have been updated in ONESOURCE Global Trade Content.
For more information on how ONESOURCE Global Trade solutions can assist you in managing restricted party screening, contact your Account Manager or Customer Success Manager.