EU’s 17th Sanctions Package Against Russia

On June 24, 2024, the European Union adopted its 17th sanctions package against Russia, marking another strategic move in its ongoing regulatory efforts. The objective remains focused on increasing economic pressure by limiting Russia’s access to military-related goods, energy revenues, and sanctioned technologies, and by cracking down on attempts to circumvent previous sanctions.

This latest round of sanctions introduces several new measures. Perhaps most significantly, it targets 189 additional vessels involved in transporting Russian oil through shadow fleets — unregistered or untraceable tankers used to bypass restrictions like the oil price cap. These vessels are now banned from EU ports and service networks. In total, 342 vessels have now been listed under this category, reflecting the largest G7 action on shadow fleets to date.

Additionally, 31 companies have been added to the list of those either supporting Russia’s military-industrial complex or circumventing sanctions. This includes firms based in third countries like Turkey, Vietnam, the UAE, Serbia, and Uzbekistan, showing how enforcement is expanding beyond national borders. The list of sanctioned individuals and entities has also grown, covering 75 new listings, including those involved in the looting of cultural heritage and military logistics. These measures aim to tighten restrictions on dual-use goods — especially advanced technology and chemical precursors — and further cut Russia off from materials critical to weapon production. A notable exception has been granted for Japan’s energy security: the Sakhalin-2 oil project exemption has been extended until June 2026, allowing crude oil shipments to continue under specific conditions.

From a broader economic standpoint, the impact of previous sanctions appears to be compounding. Data shows a significant contraction in Russia’s oil revenues, down from €100 billion in 2022 to just €22 billion in 2024. Meanwhile, inflation in Russia remains high, the interest rate sits at 21%, and the National Wealth Fund's liquid assets have dropped by 65% since the start of the conflict.

Staying Compliant Amid the EU’s 17th Sanctions Package: Why You Need Trademo Sanctions Screener

With the EU's 17th sanctions package adding 189 vessels and 31 new entities—including companies from third countries like Turkey and the UAE—it’s clear that global enforcement is tightening and circumvention is being aggressively targeted. In this fast-evolving trade environment, where even indirect links to sanctioned entities can trigger compliance risks, Trademo Sanctions Screener becomes essential. It helps businesses automatically detect high-risk vessels, companies, and individuals, especially those hidden behind shell structures or operating across borders, ensuring you stay compliant, avoid penalties, and maintain a clean supply chain in real time.