EU Freezes Assets of Three People and Nine Companies Circumventing Russia Sanctions

The European Council on October 15 adopted new restrictive measures against three individuals and nine companies found to be involved in facilitating the import of sanctioned goods into Russia and helping Moscow circumvent EU oil and financial sanctions.

Sanctions Enforcement

The new designations target those involved in the shadow trade networks that have been supplying Russia with dual-use goods, microelectronics, and energy revenues through third-country intermediaries. The EU has been tightening its sanctions enforcement to close loopholes that have allowed Russia to sustain its war economy.

Broader Sanctions Package

These asset freezes and travel bans are part of the EU's ongoing effort to maintain economic pressure on Russia. The bloc has been working to identify and penalize third-country actors that have been assisting Russia in evading the comprehensive sanctions regime imposed since the February 2022 invasion of Ukraine.