EU's 15th Sanctions Package Targets 13 Chinese Entities (Full List Included)

Amid ongoing international attention on the Russia-Ukraine conflict, the Council of the European Union approved its 15th sanctions package against Russia on December 16, 2024, under Council Decision (CFSP) 2024/3182. For the first time, the sanctions extend to Chinese entities, with specific details provided below.

As of December 16, the EU has imposed 15 rounds of sanctions on Russia in response to its full-scale invasion of Ukraine. EU foreign policy chief Kaja Kallas emphasized that these measures aim to weaken Russia's war machine and sanction individuals and entities—including Chinese companies—supporting the war. These actions reflect the EU's ongoing solidarity and support for Ukraine.

In response to Russia's attempts to bypass the oil price cap, the EU has intensified its efforts to prevent such evasions. This round targets 52 additional ships in Russia's shadow fleet, bringing the total sanctioned vessels to 79. These older, uninsured vessels have been implicated in transporting Russian oil, arms deliveries, grain theft, or supporting Russia's energy sector. They are now banned from EU ports and denied any services, as they also pose maritime safety risks.

A total of 84 new entities have been added to the sanctions list, including 54 individuals and 30 entities. The entities targeted include Russian military companies producing aircraft components, drones, electronics, engines, high-tech weaponry, and other military equipment. Senior executives in Russia's energy sector, which provides significant revenue to the Russian government, are also sanctioned. Additionally, sanctions target military units responsible for attacks on Kyiv's Ohkmatdyt Children's Hospital, as well as individuals involved in child deportations and propaganda.

For the first time, the EU has imposed comprehensive sanctions on seven Chinese individuals and entities, including one individual and two entities involved in circumventing EU sanctions, as well as four entities supplying sensitive drone and microelectronic components to Russia's military-industrial complex.

This round of sanctions includes export restrictions on 32 companies supporting Russia's military and industrial complex. These include 20 Russian companies, 7 Chinese/Hong Kong companies, 2 Serbian companies, and one each from Iran, India, and the UAE. These firms face stricter controls on the export of dual-use goods, advanced technologies, and other sensitive products to Russia.

A new measure bans the recognition or enforcement of certain Russian court decisions within the EU. This applies even when jurisdiction clauses are included in agreements if such rulings grant Russian courts exclusive jurisdiction in disputes between Russian and EU companies. The goal is to protect EU companies from the harm caused by illegitimate Russian rulings.

The sanctions extend the timelines for existing exemptions, providing EU companies more time to divest from Russia.

To counter Russia's increasing legal and retaliatory actions, which have led to the freezing of assets held by EU CSDs, two key amendments have been introduced:

- Loss Recovery Exemption: This allows EU CSDs to release frozen cash balances with authorization from member states' competent authorities, enabling them to fulfill legal obligations to clients.

- No-Liability Clause: EU CSDs are explicitly exempted from paying interest or other compensation to the Russian central bank, unless otherwise stipulated in contracts.