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New U.S. and EU sanctions against Russia may target hundreds of individuals and organizations

New U.S. and EU sanctions against Russia may target hundreds of individuals and organizations Illustrative photo: The U.S. and the EU are discussing the introduction of the 13th package of sanctions against Russia (Getty Images)

The new, 13th package of sanctions against Russia for its military aggression against Ukraine, currently being discussed by the United States and the European Union, may involve restrictive measures against nearly two hundred individuals and companies, informs Reuters.

The corresponding sanctions are planned to be announced on the upcoming anniversary of the full-scale invasion of Russia into Ukraine, that is, by February 24th.

According to an unnamed high-ranking American official in a conversation with journalists, in Washington, "Many of us are prepared to roll out quite robust anniversary packages."

He added that the United States and allies are prepared to impose "tough" sanctions but have currently refused to provide details.

The USA, EU, and other partners discussed the relevant sanctions package at a meeting in Brussels this week.

The new sanctions will emerge against the backdrop of Western countries' efforts to continue pressure on Russia. Washington has already confirmed its commitment to implementing existing measures and coordinating new actions at the sanctions coordinators' forum with representatives from the EU, the UK, and Ukraine in Brussels, as revealed by the American official.

Discussion of sanctions

He added that the partners discussed the impact of measures implemented so far by the USA, the United Kingdom, the EU, and other countries, including their effects on the military-industrial base and economy of Russia, as well as challenges and recommendations.

The official also informed that the future actions of the USA will include countering attempts to evade sanctions.

Additionally, on Wednesday in Brussels, representatives of the EU's 27 member countries held the first discussion on what will be the 13th package of sanctions against Russia since the beginning of the war in Ukraine.

According to the EU official, all delegations "expressed their support to the proposed package, except one who requested a bit more time to analyze the content of the proposals."

What may be included in the sanctions package

According to the proposal, which now requires approval from all European capitals, there will be no new ban on the import of industrial goods. However, the new EU sanctions will add nearly 200 individuals and organizations to the "blacklist," as reported by a Reuters official.

The sanctions package may involve actions against Russian state institutions, individuals, and companies, and it will also target additional sectors of the Russian economy, said former Director of the Office of Foreign Assets Control at the U.S. Department of the Treasury, John Smith.

"It's likely that you will see a significant number of names of individuals and entities - likely over 100 - that are added to the sanctions list as the anniversary arrives," he added.

Smith also mentioned that Washington may decide to use the executive order issued in December and focus on foreign financial institutions.

A Western source of the agency stated on Tuesday that the coalition may introduce measures in the sanctions package to eliminate loopholes, identify ways of circumvention, further reduce Russia's income, and strengthen the price limits on oil, including actions against the shadow fleet of tankers transporting Russian oil.

Issue of implementing the 13th sanctions package against Russia

In January, the European Union began discussions on a new sanctions package, which it intends to approve by February 24, 2024.

In early February, the press reported that over 200 companies and individuals would be included in the new package.

According to Reuters, the sanctions package will not include new restrictions on the import of Russian goods.

Later, the media reported that the EU proposes to impose sanctions on approximately 55 companies and over 60 individuals as part of the new set of measures, timed to coincide with the second anniversary of Russia's invasion of Ukraine.

It was also announced on February 14th that EU ambassadors were unable to reach an agreement on the 13th sanctions package against Russia.