The European Union has adopted the fifteenth package of economic and individual sanctions against Russia.
The EU statement states that sanctions were imposed on 54 individuals and 30 organizations “responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.”
The list includes Russian military personnel, senior executives of leading companies in the energy sector, individuals responsible for deporting children, propagandizing and deceiving, as well as two high-ranking officials from the DPRK. The exact names of these individuals are not provided in the statement.
As for legal entities, the EU has primarily targeted Russian defence companies and shipping companies responsible for transporting crude oil and petroleum products by sea, which provide important revenues to the Russian government. It has also included a chemical plant and a civilian Russian airline in its list, both of which are important suppliers of logistical support for the military. For the first time, EU has imposed full-scale sanctions (a travel ban, an asset freeze, and a ban on the provision of economic resources) on various Chinese organisations supplying drone components and microelectronic components.
The EU has banned the recognition or enforcement within the EU of decisions rendered by Russian courts based on Article 248 of the Arbitration Procedural Code of the Russian Federation, which deals with exclusive jurisdiction of arbitration courts in cases involving foreign parties.
These decisions prevented the opposing party from starting or continuing proceedings in a jurisdiction other than Russia, which is a clear violation of established international principles and practices. Often, this led to disproportionately high financial penalties for European companies. The EU said that the new measure prevents the application of these fines against EU operators in Europe.
