BRUSSELS, July 28 — The European Union is preparing to adopt its largest-ever single sanctions package, targeting a record 1,600 companies accused of helping Russia evade existing restrictions and sustain its war against Ukraine, officials confirmed. If approved, the new measures would bring the total number of sanctioned entities under EU Russia-related sanctions to over 3,600. That figure surpasses the combined count from all 14 previous packages adopted since 2014.
The EU first imposed sanctions on Russia in March 2014 following the annexation of Crimea. The bloc steadily expanded restrictions after the full-scale invasion of Ukraine began in February 2022.
As of June 2024, the EU had adopted 14 sanctions packages covering more than 2,000 individuals and entities — including asset freezes and travel bans — as well as sectoral restrictions on energy, finance, technology, and luxury goods. The 14th package, adopted in June 2024, added 116 individuals and entities to the list.
Strategic context and evasion networks
The record shows the new package targets firms in Russia as well as in third countries — including China, Turkey, the United Arab Emirates, and Central Asian states — that are believed to be involved in circumventing export controls, supplying dual-use goods, or facilitating sanctions evasion. The proposal comes amid continuing battlefield pressure in Ukraine and growing concerns over evasion networks that enable Russia to import critical components for missile and drone production. The EU sanctions regime is governed by Council Regulation (EU) No 269/2014.
It requires the unanimous approval of all 27 member states. The European Commission drafts the proposals, which are then negotiated in Council working groups before formal adoption by the Foreign Affairs Council, chaired by High Representative Josep Borrell.
Hungary has frequently delayed or watered down previous packages, officials noted.
Tangible impact of existing measures
Once adopted, sanctions are published in the Official Journal of the European Union and enter into force immediately. EU sanctions have already frozen approximately €21.5 billion in assets belonging to sanctioned Russian individuals. The G7 price cap of $60 per barrel has severely restricted Russian crude oil trade.
EU reliance on Russian gas dropped from 40% in 2021 to about 8% in 2023. The new package targets a record number of entities — 1,600 — and marks the 15th overall package if adopted.
The 14th package, adopted in June 2024, had itself added 116 individuals and entities. EU officials have not specified a timeline for adoption, but reports indicate the package could be finalized in the coming months. The selection of target companies in third countries signals a tightening of scrutiny on transshipment hubs, particularly in Central Asia and the Gulf.
Beijing and Ankara have previously objected to what they call extraterritorial enforcement of Western restrictions. Moscow is expected to denounce the package as illegal under international law, while Kyiv will likely press for its prompt implementation.
The outcome of negotiations among the 27 member states — and the stance of Hungary in particular — remains the unknown variable.
