What is there left to sanction and what is its effectiveness? Europe is boasting of no less that its 21st package of sanctions against Russia, approved by the EU on Thursday.
Apparently it has found plenty of entities still to sanction, as the compiled blacklisting is said to be the EU's largest in four years, targeting primarily financial and energy sectors. The bloc also agreed to freeze the Russian oil price cap at current levels for another year, alongside issuing 218 new designations.
Getty Images"At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort," EU Commission President Ursula von der Leyen said.
And Kaja Kallas, High Representative for Foreign Affairs and Security Policy and chair of the Foreign Affairs Council, announced that "With each round of sanctions, we squeeze Russia's economy and its capacity to prolong its illegal war. Our 21st package includes the highest number of listings in four years."
She described: "We’re hitting over a hundred banks and crypto operators, 40+ vessels in Russia’s shadow fleet, and several oil refineries in Russia and Belarus. More than 50 military-industrial entities are included, key actors involved in the production of Russia's long-range drones. Russia will only negotiate to end its illegal war and stop killing civilians if it is pressured to do so. Sanctions add to this pressure."
Notably the EU is targeting not just Russia's so-called shadow fleet, but any vess
