FT: Europe closes sanctions loopholes for the Russian economy.

The European Union imposed sanctions on companies that assist in circumventing Russia's embargo

The European Union adopted the 17th package of sanctions aimed at maintaining pressure on Russia amid the potential change of support for Ukraine from U.S. President Donald Trump. The sanctions cover companies from Vietnam, Turkey, Serbia, as well as 149 oil tankers of the Kremlin's 'shadow fleet' and about 60 individuals from Russia and China.

The list of sanctioned companies includes over 20 new entities, of which 10 are located in third countries, including the UAE, Turkey, Serbia, Vietnam, and Uzbekistan. Particular attention was drawn to the case when a Vietnamese company was sanctioned by the EU for cooperating with the Kremlin.

The package also expands the list of goods prohibited for export to Russia, including dual-use chemicals and machine tool components. European officials see these new measures as a test of Hungarian Prime Minister Viktor Orban's readiness to accept additional sanctions ahead of a vote in July on extending sanctions against the Russian Federation.

This sanctions package reaffirms the EU's determination to continue pressure on Russia and to prevent the evasion of the embargo through cooperation with companies that help Russia circumvent existing restrictions.