EU takes new aim at Russian ships in sanctions unveiled on Ukraine war anniversary

The EU published its 10th package of sanctions against people and companies supporting Russia's war in Ukraine on Friday, with a sharp focus on the maritime sector to increase pressure on Moscow.

PHOTO: EU sanctions have targeted Sovcomflot vessels and other Russia-owned or operated vessels in international seas. Sovcomflot

The new sanctions were imposed to mark one year since Moscow began its invasion of Ukraine on 24 February 2022, the EU said. The list of entities targeted in the new package include Dubai-based Sun Ship Managment, which is part of Russia's state-owned shipping company Sovcomflot, the EU said.

EU diplomats began considering sanctions against Sun Ship Management earlier this month. They believe Sovcomflot transferred its 92-vessel fleet to Sun Ship Management in April 2022, according to media reports.

Russian firms have faced heavy sanctions from the EU and other Western countries for Moscow’s invasion of Ukraine. The sanctions are designed to restrict movement of Russia-owned or -operated vessels in international waters.

"The Russian Federation is the ultimate beneficiary of the services offered by SUN Ship Management. Such services provide a substantial source of revenue to the government of the Russian Federation, accounting for more than 70% of Russia’s energy revenue, thereby enabling the Kremlin to finance its war of aggression against Ukraine," the EU noted.

The EU's latest round of sanctions also target other Russia-linked shipping and maritime companies. Russian National Reinsurance Company is among these companies as it is the main reinsurer of Russian ships responsible for the export of Russian oil, including Sovcomflot’s fleet, the EU said.

Atomflot, a manager of Russian icebreaker fleets, is also sanctioned in the new package. A number of companies involved in making various parts or services for military ships and submarines have also been sanctioned.

By Debarati Bhattacharjee

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