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Russia Slapped With New Sanctions

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On December 15, the US and the EU governments simultaneously imposed additional sanctions against the Russian Federation and its oligarchs. As a result of its ongoing conflict with Ukraine, Russia is currently subject to yet another round of severe sanctions. Every one of them aims to impose penalties for what a recent fact sheet refers to as “harmful foreign activity.”

The US is reportedly concentrating extensively on penalizing former Russian Deputy Prime Minister Vladimir Olegovich Potanin and his close associates, according to a press release from the State Department. 32 people known to work for or with the Russian Federation are the subject of additional limitations, together with numerous of their family members, businesses, several Russian Railway board members, and at least seven proxy authorities working out of Ukraine.

The EU’s sanctions announced on December 16, target 140 oligarchs equally but also limit particular sectors of the Russian economy, military, and banking system that directly support Russia’s offensive against Ukraine. The export of technology, dual-use products, and drone engines to Russia are all on this list of restricted items. Heavy fines are imposed on Russia’s mining industry and Regional Development Bank.Β 

Notably, the EU decided to restrict services for market research, advertising, and public opinion polling supported by Russia. Additionally, it revoked the broadcasting permits of NTV/NTV Mir, Rossiya 1, REN TV, and Perviy Kanal, citing grave worries about global campaigns to spread misinformation and manipulate public opinion.

The US and EU leaders concur that more onerous restrictions are intended to make it harder for the Russian Federation to continue its conflict with Ukraine. Although this position is not new, the broader reach shows that both countries may make more significant attempts to increase their efforts. It’s still being determined if the sanctions will effectively slow Russia down.

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