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EU Sanctions Proposal Targets Indian Entities Amid New Russia Package
(MENAFN) The European Union’s latest proposed sanctions package against Russia includes entities linked to India, a move that could complicate the ratification of a trade agreement recently signed between the EU and New Delhi, according to reports.
The proposed measures focus on sectors including energy, cryptocurrency, financial services, trade, and fisheries, and would mark the 21st sanctions package introduced against Russia, as stated by European Commission President Ursula von der Leyen.
Top EU diplomat Kaja Kallas said the new package includes export control measures targeting around 50 companies, among them entities based in countries such as China, Türkiye, Kyrgyzstan, Kazakhstan, the UAE, and India, according to reports.
The specific identities of the Indian entities have not been disclosed.
For the sanctions to take effect, they must receive unanimous approval from all 27 EU member states, with a decision expected by July 15, according to reports.
The package also includes a temporary freeze on the EU’s Russian oil price cap mechanism and new restrictions on the resale of liquefied natural gas (LNG) tankers to Russia.
While the inclusion of Indian entities is not unprecedented, the development comes amid ongoing efforts to finalize a broader trade agreement between the EU and India, often described by European leaders as a landmark deal resulting from long-standing negotiations that began in 2007.
The proposed measures focus on sectors including energy, cryptocurrency, financial services, trade, and fisheries, and would mark the 21st sanctions package introduced against Russia, as stated by European Commission President Ursula von der Leyen.
Top EU diplomat Kaja Kallas said the new package includes export control measures targeting around 50 companies, among them entities based in countries such as China, Türkiye, Kyrgyzstan, Kazakhstan, the UAE, and India, according to reports.
The specific identities of the Indian entities have not been disclosed.
For the sanctions to take effect, they must receive unanimous approval from all 27 EU member states, with a decision expected by July 15, according to reports.
The package also includes a temporary freeze on the EU’s Russian oil price cap mechanism and new restrictions on the resale of liquefied natural gas (LNG) tankers to Russia.
While the inclusion of Indian entities is not unprecedented, the development comes amid ongoing efforts to finalize a broader trade agreement between the EU and India, often described by European leaders as a landmark deal resulting from long-standing negotiations that began in 2007.
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