EU sanctions five individuals, four companies for supporting Russia's "shadow fleet"

BRUSSELS, Dec 14 (KUNA) -- The Council of the European Union (EU) said on Monday that it had imposed sanctions on five individuals and four additional entities for their involvement in supporting Russia's s called "shadow fleet" and its associated value chain, as part of the bloc's efforts to curb Russia's revenue generating capabilities.
In a press release, the Council said that the individuals listed under the sanctions are businessmen linked, directly or indirectly, to the Russian state-owned oil companies Rosneft and Lukoil, and that they all operate in an economic sector that provides a significant source of revenue for the Government of the Russian Federation.
The statement added that these individuals control vessels transporting crude oil or petroleum products of Russian origin or exported from Russia, while concealing the true origin of the oil, in addition to engaging in irregular and high-risk shipping practices.
It noted that the entities targeted by the sanctions are shipping companies based in the United Arab Emirates, Vietnam and Russia, which own or manage tankers subject to restrictive measures imposed by the European Union or by other countries for being part of what is known as Russia's "shadow fleet," and which transport crude oil or petroleum products using irregular and high risk shipping practices.
Those listed under the sanctions are subject to an asset freeze, and EU citizens and companies are prohibited from making funds or economic resources available to them. Individuals are also subject to a travel ban preventing them from entering or transiting through the territories of EU member states.
The Council of the European Union said that the sanctions regime imposed in response to what it described as Russia's "ongoing and unjustified military aggression" against Ukraine currently targets more than 2,600 individuals and entities. (end) arn.bb