The EU Council announced the official adoption of the 14th package of new sanctions against Russia.

Watch Fed Chair Powell and ECB President Lagarde speak at a central bank policy forum Watch Fed Chair Powell and ECB President Lagarde speak at a central bank policy forum

"The package includes restrictive measures against 116 individuals and entities responsible for actions threatening the territorial integrity, sovereignty and independence of Ukraine, as well as various sectoral measures," the statement said, adding that the new package would close legal loopholes in existing sanctions, make it more difficult to circumvent sanctions and introduce new measures in the energy field.

It was noted in the statement that the use of EU facilities in the transfer of Russian LNG to third countries will be prevented, "The EU will ban the reloading services of Russian LNG on EU territory."

In the statement, it was noted that new measures were also taken to prevent the circumvention of EU sanctions, and detection mechanisms will be introduced in the export of goods important for the development of Russian military systems to third countries.

"The EU Council has decided to ban the use of SPFS, the System for the Transfer of Financial Messages, a special financial messaging service developed by the Bank of Russia to eliminate the impact of restrictive measures." The statement said that EU operators will also be banned from dealing with specially listed entities using SPFS outside Russia.

In the statement, it was reported that some ships contributing to Russia will be banned from accessing EU ports.

Pointing out that 61 companies providing both civilian and military (dual-use) technology to Russia are listed, the statement pointed out that these companies, some of which are located in third countries, will be subject to stricter export restrictions.

With this package, the EU has taken restrictive measures against Russian LNG for the first time.

The EU has imposed a wide range of restrictions on Russia due to the war, including trade, finance, energy including oil and coal, industry, technology, transportation, dual-use and luxury goods, gold and diamonds.

Editor: David Goodman