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News 17 Dec, 2024

Sanctions- EU issues 15th package

Tony Paulson

Head of Asia & Corporate Director

The EU issued its 15^th sanction package targeting Russia on 16 December 2024. The impact on shipping and insurance would generally appear to be limited, but the EU has designated a further 52 vessels in a measure "intended to target non-EU tankers that are part of Putin’s shadow fleet circumventing the oil price cap mechanism or support the energy sector of Russia."

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Details are set out in Council Regulation (EU) 2024/3192 of 16 December 2024 amending Regulation (EU) No 833/2014, which can be found here. The EU Council’s press release on this latest action can be found here.

As always, any Member with questions on this or any other sanctions issue should contact the Managers. In addition, substantial guidance on the Ukraine conflict can be found on our dedicated webpage which can be found here.