The European Commission is gearing up to introduce sanctions targeting vessels delivering North Korean military equipment to Russia, as well as tankers that breach the G7-imposed price cap on Russian oil, according to sources cited by Reuters. This move is part of the Commission's ongoing efforts to formulate the 14th package of sanctions against Moscow in response to its full-scale invasion of Ukraine.
Reports have surfaced accusing North Korea of supplying weaponry, including ballistic missiles and ammunition, to Russia. The United States disclosed in February that since September, North Korea has delivered over 10,000 containers of ammunition and related materials to Russia, underscoring the international ramifications of this military collaboration.
The sanctions proposed by the European Commission are also set to target the so-called "shadow fleet" of oil tankers that are involved in exporting Russian oil beyond the price ceilings established by the G7 countries. The escalation of measures includes the anticipated addition of 40 entities to the sanctions list, encompassing Russian companies acquiring equipment for military use, as well as third-party entities in the UAE, Kyrgyzstan, Turkey, and China that sell electronics, semiconductors, and chips used for military purposes to Russia.
These third-party companies reportedly deal in European and American-origin equipment, highlighting the global nature of the sanctions' impact. This information comes from the draft document of the proposed sanctions package, which Reuters' sources have reviewed.
The European Commission's process involves informal discussions with EU member states prior to finalizing the proposal. Vice President Valdis Dombrovskis confirmed that the EU has commenced preparations for this next, fourteenth set of sanctions against Russia, aiming to tighten the noose on military engagements and energy transactions that support Moscow's war efforts in Ukraine.
