ADVERTISEMENT
ADVERTISEMENT
EU proposes sanctions package targeting firms in India and other countries
The proposed measures are part of the European Union’s latest effort to restrict Russia’s military and economic networks amid the ongoing war in Ukraine.
-
Ankita Baidya - Wed, 10, Jun 2026
- 03:24 EDT
- 44
Representational photo / Xinhua/IANS
The European Union has proposed a new sanctions package against Russia that includes export-control measures targeting companies in several countries, including India, over allegations of supporting Moscow’s military-industrial network.
The proposed 21st sanctions package was announced by European Union High Representative for Foreign Affairs and Security Policy Kaja Kallas as part of the bloc’s continuing efforts to increase economic pressure on Russia over the war in Ukraine.
Also Read: Belgium, Denmark post strongest Schengen visa approval rates for Indians
According to EU officials, the package targets banks, energy networks, drone manufacturers, military supply chains and companies accused of helping Russia circumvent existing sanctions.
“We are also targeting companies providing support to Russia’s military-industrial complex,” Kallas said in a statement posted on X.
The new measures would include export-control restrictions on 50 companies operating outside Russia, including entities based in India, China, Türkiye, Kyrgyzstan, Kazakhstan and the United Arab Emirates.
The European Union has not publicly identified the Indian companies that could be included in the proposed sanctions.
Kallas said the package would also introduce more than 30 new designations linked to drone manufacturing and military supply networks supporting Russia’s war effort.
“Brick by brick, we are collapsing the foundations of Russia’s war economy,” Kallas said.
The proposed sanctions package also focuses heavily on Russia’s financial and energy sectors.
According to the European Commission, the measures include proposed asset freezes on nearly 90 banks and additional transaction bans affecting more than 30 banks in Russia and other countries.
The EU also plans to tighten restrictions on cryptocurrency-related services and platforms that officials believe could be used to bypass sanctions.
“We intend to deal a heavy blow to Russia’s financial sector,” Kallas said.
Energy exports remain another major focus of the proposal. The sanctions package includes new restrictions involving liquefied natural gas tankers, Russian oil exports and vessels linked to Russia’s so-called “shadow fleet,” which Western governments allege has been used to evade existing sanctions.
The proposal would additionally restrict exports of industrial materials and technologies, including nickel powders, metals and high-performance alloys that could support Russia’s defense manufacturing sector.
The package also seeks to impose transaction bans on two Russian ports and four airports.
The measures still require approval from European Union member states before they can officially take effect.
If adopted, the sanctions would mark one of the European Union’s broadest attempts yet to target companies and financial networks outside Russia that are alleged to support Moscow’s war economy.
The development could also increase scrutiny on international companies operating in sectors connected to technology exports, manufacturing and supply chains involving Russia.
Discover more at New India Abroad.
Related
ADVERTISEMENT
ADVERTISEMENT
E Paper
Video
Comments
Start the conversation
Become a member of New India Abroad to start commenting.
Sign Up Now
Already have an account? Login