The UK and EU have jointly hit Russia with another round of sanctions, as Westminster and Brussels ramp up pressure on Moscow to agree to an unconditional ceasefire, ending its invasion of Ukraine.
The UK foreign office said yesterday (20 May) that 100 new sanctions are being applied. These target the Russian military industry and propaganda arms, as well as its energy exports.
Propaganda, oil and ships
Fourteen members of the Social Design Agency – a Kremlin-funded agency – have been targeted, as have 46 financial institutions, including the Petersburg Currency Exchange and the Russian Deposit Insurance Agency.
Additionally, 18 more ships in Russia’s ‘shadow fleet’ have been sanctioned. Earlier this month, prime minister Sir Keir Starmer announced 110 measures against the fleet, which exports Russian oil while evading the price cap sanctions introduced in 2022.
The US$60 oil price cap is also being reviewed. The cap limits the amount that can be paid for Russian crude oil.
Ceasefire call
Foreign minister, David Lammy, said that the government urged Putin to “agree to a full, unconditional ceasefire right away so there can be talks on a just and lasting peace.”
“We have been clear that delaying peace efforts will only redouble our resolve to help Ukraine to defend itself and use our sanctions to restrict Putin’s war machine.”
Chartered Institute perspective
Daniela Turiccki, Export Controls Advisory lead at the Chartered Institute of Export & International Trade, said:
“This announcement confirms the government’s determination to continue the pressure against the Russian government for its illegal invasion of Ukraine. Until the invasion ends, we’re likely to see more measures from both the EU and UK.
“Importers and exporters need the right training and tools to understand their obligations. It is vital to ensure compliance with this ever-expanding list, as the price of non-compliance is likely to be a hefty fine and a serious hit to your firm’s reputation.”
European efforts
For the EU, this latest package is its 17th round of sanctions.
The European Commission (EC) identified 189 more vehicles that were part of the shadow fleet, bringing the total number to 342. These are subject to a ban on port access and provision of services in European member states.
Another 31 companies are being added to a list of Russian direct or indirect supporters, with 13 of these based outside of Russia.
Geographical spread
The list includes six companies in Turkey, three in Vietnam, two in the UAE and one each in Serbia and Uzbekistan.
An additional 75 companies and individuals are now subject to asset freezes and travel bans.
The EC’s package also expands the list of dual-use and advanced technology subject to export controls. This includes chemicals like sodium chlorate, aluminium powder and boron powder, as well as “high-precision Computer Numerical Control machine tools”.
‘Wide-sweeping’ sanctions
Kaja Kallas, the EC’s foreign affairs chief, said this was the most “wide-sweeping” package of sanctions since the beginning of the war.
“While Putin feigns interest in peace, more sanctions are in the works. Russia’s actions and those who enable Russia face severe consequences.
“The longer Russia persists with its illegal and brutal war, the tougher our response will be.”
The Russian government hasn’t yet officially responded to the measures. TASS, a government media agency, published an article pointing to the “dissatisfaction” at the measures expressed by China’s foreign ministry spokesman.
