Emergency Contact IG Circular - EU 16th Sanctions Package and UK Sanctions Home Latest updates News IG Circular - EU 16th Sanctions Package and UK Sanctions 10 Mar 2025 View PDF Sign up for alerts This circular highlights recent key sanctions imposed against Russia by the EU and the UK. On 24 February 2025, the EU adopted the 16th package of sanctions against Russia on the third anniversary of Russia’s full scale invasion of Ukraine. These measures are set out in several regulations and decisions which can be found here . The EU Commission has issued a press release which can be found here and FAQs which can be found here . This sanctions package targets key sectors of the Russian economy which include trade, transport, energy, infrastructure, and financial services. It also includes additional measures targeting the ‘shadow fleet’ and sanctions circumvention. The most significant measures are summarised below. Listings and Designation Criteria The EU has designated 48 individuals and 35 entities adding them to the EU sanctions list. This means that they are subject to an asset freeze and a prohibition on making funds and economic resources available to them. It has also designated 74 vessels that are part of Russia’s ‘shadow fleet’ (bringing the total number of listed vessels to 153). These are non-EU tankers that were circumventing the Russian oil price cap scheme, supporting the Russian energy sector or transporting military equipment for Russia. These vessels are subject to a port access ban, and it is prohibited for EU operators to provide a broad array of maritime services to them or to charter, operate or crew these vessels, as well as to engage in ship-to-ship transfers or any other transfer of cargo with them. The Regulation also updated the list of exclusions to the above port ban for vessels including emergency calls for safety, life at sea, humanitarian or environmental purposes. The EU has also introduced two new criteria for the designation of individu