EU is preparing 16th package of sanctions against Russia
Ursula von der Leyen, President of the European Commission, has said that the draft of the next package of sanctions against Russia is already being prepared.
During the plenary session of the European Parliament, the president of the European Commission noted that the next package of sanctions against Russia is already being prepared.
Ursula Von der Leyen noted at a plenary session of the European Parliament that more than a third of Russia's budget is currently spent on military spending – this is the economy of war. Therefore, she said, it is very important to undermine Kremlin leader Vladimir Putin's potential revenue.
"Last week we adopted our 15th package of sanctions. It includes measures against Russia's shadow fleet and circumvention channels, and the 16th package is already in preparation," Ursula von der Leyen said.
The President of the European Commission noted that the sanctions are having a negative impact on the Russian economy.
"The rouble is at its lowest level since the start of the war, in spite of the massive countermeasures by the Russian Central Bank. Inflation has reached 70% in some sectors of the Russian economy," she added.
Ursula von der Leyen added that the EU is sending a very clear message to the Kremlin: "The longer the war continues, the higher the price for the Russian economy."
Radio Liberty's Europe editor, Rikard Jozwiak, expects it to be presented to EU member states in January 2025.
On 16 December, the EU Council adopted the 15th package of sanctions against Russia. The sanctions are designed to counteract the circumvention of sanctions by targeting Russia's shadow fleet and weakening the Russian defence industrial base.
A group of 12 states that are part of the Nordic-Baltic Eight Plus (NB8+) format agreed to increase monitoring of vessels that may be part of Russia's so-called shadow fleet.
On 17 December, UK Prime Minister Keir Starmer announced new sanctions against 20 tankers that illegally transported Russian oil.