New Sanctions Strike on Moscow: EU Targets 'Shadow Fleet' and Hundreds of Vessels.

The European Commission is preparing new sanctions against Russian tankers

The European Commission plans to propose a new package of sanctions aimed at the hidden fleet of Russian oil tankers to increase pressure on Moscow due to the war against Ukraine.

According to Bloomberg, the proposed sanctions will cover 60 individuals and legal entities, and will also include restrictions on approximately 150 vessels. This will bring the total number of restricted vessels to over 300, sources from the agency, who wished to remain anonymous, reported.

Moscow has assembled a 'shadow fleet' of old and sometimes uninsured vessels to bypass sanctions and price restrictions imposed by the EU and its allies. As a result, Russian oil continued to flow into global markets, prompting European capitals to call for stricter sanctions against Moscow's energy revenues to force President Putin to end the war in Ukraine.

Foreign ministers of the bloc plan to officially approve the proposed measures before a meeting in Brussels scheduled for May 20. If adopted, the new measures will become the 17th package of EU sanctions since Russia's full-scale invasion of Ukraine in February 2022.

For the sanctions to be implemented, the EU needs the support of all member states, and proposals may change before their approval. The bloc's sanctions need to be updated every six months, with the next deadline expiring in July. Hungary has repeatedly threatened to veto these measures but has backed down each Time.

Meanwhile, the EU is looking at ways to expand sanctions against Russia without requiring the support of all 27 member states. Among other options, the Commission is assessing the possibility of converting some restrictions into trade measures that do not require unanimous consent from all member states, but only a qualified majority for approval.

The new package of sanctions from the European Commission is an important step in increasing pressure on Russia due to its interference in Ukraine and support for military operations. These measures may help stop Moscow's illegal actions and force it to abandon further aggression in the region.