The 20th package of EU sanctions against Russia introduces restrictions for the first time on non-EU ports

European Union as part of the 20th package of sanctions against the Russian oil industry, for the first time introduced restrictions on ports located outside the territory EU.

According to official information, new measures affect the port Kulevi in Georgia and port Karimun in Indonesia.

As stated in the European Union, the purpose of the restrictions is to strengthen control over the export of Russian oil and counter schemes to circumvent previously imposed sanctions.

The focus of the new package is the so-called “shadow fleet” Russia – a network of tankers used to transport oil outside official channels.

It is planned to include more in the sanctions list 42 oil tankerswhich, according to the EU, are involved in such operations.

In addition, financial institutions that are allegedly involved in circumventing existing sanctions mechanisms are subject to restrictions.

Brussels emphasizes that the expansion of sanctions on infrastructure outside the European Union is aimed at reducing opportunities for illegal supplies and redistribution of oil flows.

Until now, EU measures have mainly affected ports, ships and companies registered in countries of the union or directly related to its jurisdiction.

The introduction of restrictions against ports in third countries means a transition to a broader geographical model of sanctions pressure.

Experts note that the effectiveness of the new measures will depend on the level of cooperation with the national authorities of Georgia and Indonesia, as well as on the EU’s ability to monitor further supply routes.

20th package of sanctions became the next stage in the EU sanctions policy aimed at limiting Russia’s income from energy exports.

The package is being prepared for the fourth anniversary of the start of Russia’s full-scale invasion of Ukraine (February 24).

The EU’s goal is to reduce Russia’s oil revenues and reduce the ability to circumvent existing restrictions through ports and financial channels.

Who benefits from the 20th package of sanctions and what will it give to the EU economy

The next one already 20th package of EU sanctions against Russian oil exportswhich for the first time touches ports outside the European Unionis presented as “increasing pressure” and “a new stage in the fight against circumventing restrictions.”

In a political sense, this is a demonstrative step. Economically, it is extremely controversial.

First of all, new measures inevitably complicate oil supply logistics. Port restrictions in Georgia And Indonesia mean lengthening of routes, growth transport costsinsurance costs and additional burden on the shipping market.

All these costs do not disappear. They are passed on to the end customers. Including European ones.

As a result, raw materials and energy for EU industry become more expensive, and the market becomes more nervous and unstable. This increases pressure on manufacturing sectors that are already feeling the effects energy crisis recent years.

Remain especially vulnerable chemical industry, metallurgy, transport, agricultural sector And manufacturing. Where the price of energy directly affects production costs, any additional restrictions mean a loss of competitive position.

At the same time, the gap between Europe and other centers of the world economy is growing. Bye European Union introduces new barriers USA, China, India and Asian countries continue to purchase energy resources under more flexible schemes and at more favorable prices.

As a result, European products become more expensive, and European companies become less competitive global market.

A separate issue is the effectiveness of pressure on Russia. The practice of recent years shows that exports do not stop, but are redirected. Routes are changing, intermediaries are appearing, and shadow infrastructure.

The economic effect for Moscow turns out to be limited, while for Europe it is noticeable.

In addition, sanctions against ports of third countries create additional tension in relations with EU external partners. This creates a feeling that economic cooperation with Europe is becoming politically risky.

In the long term, such signals push countries to seek alternative trade and financial ties.

Thus, for economy of the European Union The new package of sanctions has primarily negative consequences: rising costs, pressure on prices, weakening competitiveness, increasing instability.

The positive effect is mainly political in nature: demonstrating a tough position, maintaining intra-elite consensus and signaling to allies.

From a real economic perspective, the benefits appear limited.

In fact, Europe is again opting for symbolic gestures, even if their price is growth slowdownincreased business costs and decreased welfare of citizens.

And the main question remains the same: who ultimately benefits from such a policy – those against whom it is directed, or those who introduce it.

Source link