Moscow was supposed to have lost over a trillion euros. "Sanctions are working"

Commissioner Albuquerque announced that on Monday, November 16, the foreign ministers of the member states are to approve further restrictions targeting Russia. These will include, among others: Russian refineries and the so-called shadow fleet, used to transport oil.

Over 4.6 thousand persons and entities subject to restrictions

Maria Luis Albuquerque recalled that since February 2022, the European Union has been coordinating sanctions activities with international partners, including: United States, United Kingdom, Canada, Australia and Japan. So far, the Community has adopted 21 packages of restrictions covering trade, energy, transport, the financial sector and the media.

After the introduction of restrictions in October, aimed primarily at the Russian arms industry, the number of people and organizations subject to sanctions increased to nearly 4.6 thousand.

More than 690 units belonging to the Russian shadow fleet have also been added to the EU sanctions list. In addition, transactions with over 100 Russian banks were banned. The EU blocked the export of weapons and dual-use products and suspended the possibility of broadcasting Russian propaganda media on its territory.

Sanctions work and Moscow knows it. They cost Russia over EUR 1 trillion. Otherwise, Russia could spend (this amount) on the war, Albuquerque emphasized during her speech to the European Parliament.

She also drew attention to Russia's intensifying hybrid activities aimed at Europe. In her opinion, Moscow is trying to weaken the unity of European countries and reduce their willingness to support Ukraine. However, the effect is the opposite. The EU remains steadfast and united in its support for Ukraine, the official noted.

Brussels announces further toughening of its course towards the Kremlin

The commissioner emphasized that European leaders do not intend to give up economic pressure on Russia. The Community's position remains unchanged: restrictions should remain in force and be extended until a just and lasting peace is achieved.

On Monday, November 16, the foreign ministers of the EU countries are to adopt further sanctions decisions targeting oil refineries and the so-called shadow fleet.