By John Q. Hosedrinker 
The European Union recently approved its 18th sanctions package against Russia, described as one of the strongest to date, in response to the ongoing aggression in Ukraine. Key components of the package include lowering the price cap on Russian oil, targeting Russia’s “shadow fleet,” and imposing restrictions on the Russian banking system and Nord Stream gas pipelines. Additionally, the sanctions extend to the Russian defense and finance sectors, entities involved in indoctrinating Ukrainian children, and tighten restrictions on oil product imports via third-party countries. President Zelensky and other European leaders have welcomed the decision, emphasizing the importance of applying pressure to Russia.
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EU agrees on ‘one of its strongest’ Russia sanctions packages after Slovakia lifts veto. After much debate and the eventual lifting of a veto by Slovakia, the European Union has agreed on what is being hailed as one of its toughest packages of sanctions against Russia. This is the eighteenth such package, a testament to the ongoing nature of the conflict in Ukraine and the EU’s sustained efforts to curb Russia’s aggression. The discussions leading up to this agreement highlight the complex web of economic interests, political considerations, and the evolving strategies of both the EU and Russia.
The EU’s continued reliance on Russian resources, particularly energy, remains a significant factor in this equation. Despite the sanctions, the EU is still importing a substantial amount of goods, including gas and other resources, from Russia, amounting to billions of euros annually. While there’s a clear downward trend in these imports since 2023, the volume of trade is still significant, raising questions about the effectiveness of previous measures and the speed at which the EU can fully decouple from Russian energy dependence. The drop in imports and exports between 2021 and 2024 indicates significant changes, but there is still a long way to go.
These sanctions are not intended to destroy Russia, they are intended to weaken Russia.
This latest package includes several key elements. One major focus is on reducing the price cap on Russian oil, thereby limiting Russia’s revenue from its oil exports. Another is a crackdown on the “shadow fleet” of ships used to circumvent existing oil sanctions. New measures also target the military-industrial base, restricting the export of technology used in drones and other military equipment. The package also includes restrictions on Russia’s banking system.
Crucially, this package marks the first time that Chinese entities aiding Russia in evading sanctions are targeted. This is a notable development, reflecting the growing importance of China in the Russian economy and its role in helping Russia navigate Western sanctions. The targeting of Chinese banks signals the EU’s determination to disrupt the channels through which Russia is able to continue trading and financing its war effort.
The measures also include sanctions against specific entities, such as Rosneft’s largest Indian refinery, and individuals involved in activities such as indoctrinating Ukrainian children. This demonstrates the EU’s efforts to address a range of concerns related to the conflict, going beyond purely economic measures.
Critics of the sanctions often point to Russia’s continued ability to generate revenue and maintain its economy. They argue that the sanctions are not having the desired effect, and that Russia is adapting and finding ways around them. There is the suggestion that Russia is still in Ukraine after three years, that its economy is still standing, and that it continues to sell gas to the EU. However, this ignores the significant economic pressures Russia is facing, including rising costs, reduced access to key technologies, and an increasing dependence on China. The sanctions were not designed to make Russia fail immediately. They are a long-term strategy.
Sanctions are not a simple on-off switch; they are a continuous process, implemented step by step. The goal is to funnel the Russian economy into narrower and narrower paths. This is a game of attrition, where the goal is to weaken Russia over time. It is a delicate balancing act, requiring the EU to consider its own economic interests, the impact of the sanctions on its own populations, and the need to maintain unity among its member states.
The lifting of Slovakia’s veto was necessary to proceed with this latest package. The fact that Slovakia initially resisted the sanctions shows the varying economic dependencies of different EU member states and the challenges in reaching consensus on these complex issues. Slovakia’s concerns were related to existing oil and gas contracts.
The fact that Russia has been struggling for generations has little to do with the sanctions, the EU is not going to allow Russia to completely collapse. They don’t want millions of Russian refugees and they also need oil to continue to flow. This is because, in a democracy, no one has enough power and authority to make the difficult decisions which will hurt their own people. The sanctions were not meant to punish anyone, they were a necessary evil to protect the EU’s population.
Sanctions are useful. They help to weaken Russia.
In the face of an ongoing war, and the complexities of international trade, the EU continues to show a united front against Russia. This new sanctions package, the eighteenth in a series, is a clear example of the difficulties involved in tackling Russia. The EU understands the economic pressures placed on Russia as it also has the responsibility of making sure its own population is looked after. Russia has also been adapting, changing its strategies and so this new package is necessary.