On December 11, 2024, EU member states reached an agreement on a new package of sanctions targeting Russia, primarily aimed at its so-called shadow fleet involved in oil transportation. This decision follows ongoing military conflicts in Ukraine and is part of the EU's broader strategy to impose stricter measures against Russian entities.
According to multiple diplomats, the sanctions will prohibit more than 50 additional vessels from entering EU ports and will restrict them from benefiting from services offered by European companies. The latest sanctions package marks the 15th round of measures against Russia since the onset of the conflict.
Furthermore, the EU plans to impose trade restrictions on over 30 additional actors believed to have connections to Russia's defense and security sectors, including entities based in China involved in drone manufacturing for the conflict. The Hungarian EU presidency indicated that further travel bans and asset freezes against numerous individuals are also being considered.
This agreement requires formal approval, expected to occur during a meeting of EU foreign ministers in Brussels on December 18, 2024. The last sanctions package was adopted in June 2024 and focused primarily on measures against liquefied natural gas transactions and companies circumventing sanctions.
Additionally, German Chancellor Olaf Scholz advocated for increased investments in Ukraine's defense and energy sectors at a German-Ukrainian business forum held in Berlin. He highlighted the importance of private investments to bolster Ukraine's resilience against ongoing Russian attacks. Scholz emphasized that investing in Ukraine today means investing in a future EU member.
Scholz's remarks come amid ongoing discussions about the potential for peace negotiations, with Polish Prime Minister Donald Tusk suggesting that talks could commence this winter. Tusk is set to meet with French President Emmanuel Macron to discuss the situation further.