EU plans most far-reaching sanctions on Russia in coming months

The European Union is set to significantly broaden its sanctions against Russia in the months ahead, stemming from the ongoing conflict in Ukraine, according to EU foreign policy chief Kaja Kallas. Speaking to Die Welt, Kallas stated that the existing sanctions have already inflicted substantial damage on Russia, reducing its war efforts by over €1 trillion.

In the upcoming autumn, Kallas aims to introduce the most comprehensive sanctions list since the beginning of the war. Should these new sanctions be approved, they would raise the total number of sanctioned Russian entities by one-third.

Kallas, who heads the European External Action Service (EEAS), did not disclose the exact timing or specific details of the new designations. However, EU diplomatic sources revealed that the EEAS plans to target approximately 1,600 individuals and entities linked to Russia's military-industrial complex. These designations will encompass travel bans, transaction restrictions, and asset freezes.

The EEAS is anticipated to submit the new sanctions list to EU member states in early September, with the goal of implementing them by October. The listings are not projected to include sectoral measures, which fall under the jurisdiction of the European Commission, as the EEAS seeks to expedite their adoption. EU sanctions necessitate unanimous approval.

The EU has already sanctioned nearly 3,000 individuals and companies. The EEAS plans to present the new list to EU countries in early September, with the intention of adopting them in October. These measures are not expected to be accompanied by sectoral measures, as handled by the European Commission, in an effort to hasten their approval.

EU sanctions, which must be unanimously approved, have often encountered lengthy disputes in the past. During negotiations for the latest 21st package, Greece raised concerns over a future ban on Russian liquefied natural gas transfers. The package was approved in July, imposing restrictions on Greece's banking sector and cryptocurrency networks.

The EEAS also intends to propose additional sanctions in September targeting those involved in the trafficking of Ukrainian children under the guise of human rights violations, and later in the autumn, more designations related to Russia's hybrid operations, such as cyberattacks and misinformation campaigns.