In a recent declaration, Valdis Dombrovskis, the Vice-President of the European Commission, confirmed the European Union's initiation of work on its fourteenth package of sanctions against Russia. This move comes in response to Russia's full-scale invasion of Ukraine, highlighting the EU's ongoing efforts to curb Russian aggression through diplomatic and economic means. The news was reported by "European Pravda," citing Dombrovskis' statements during an event organized by the Progressive Alliance of Socialists and Democrats in the European Parliament.
Dombrovskis projected that the EU's forthcoming sanction package against Russia is expected to be adopted in the spring. He elaborated that this package would likely feature a comprehensive list of restrictive measures, with a particular focus on combating evasion tactics. "It will probably include a broad range of restrictive measures with a strong emphasis on fighting circumvention, for example in the maritime sector, as Russia continues to attempt to violate the price cap on its oil exports," Dombrovskis added, signaling the EU's intent to close loopholes that have allowed Russia to partially sidestep the economic impact of previous sanctions.
Furthermore, the Vice-President mentioned that the Commission is actively exploring ways to counteract sanction circumvention through subsidiary companies of Western countries operating outside Europe. This strategy underscores the EU's commitment to not only target direct offenders but also to clamp down on entities that facilitate Russia's evasion of sanctions or contribute to its military arsenal indirectly.
Dombrovskis assured, "We will continue to exert pressure on Russia and those supporting it on the battlefield, wherever they are. We will continue to pursue Putin's allies. And we will keep tracking those who assist Russia in circumventing sanctions or replenishing its military arsenal." This statement reiterates the EU's resolve to pursue a multifaceted strategy against individuals and entities that support the Russian war effort, directly or indirectly.
This development follows the Council of the EU's adoption of the thirteenth package of restrictive measures against Russia on February 23. These measures targeted individuals and entities responsible for perpetuating the war against Ukraine and those significantly supporting the Russian military efforts. As the EU prepares to implement its fourteenth package of sanctions, it sends a clear message of its unwavering support for Ukraine and its dedication to employing economic tools in the fight against aggression and in pursuit of global stability and peace.
