EU 14th sanctions package

The 14th sanctions package was adopted by the Council of the European Union on 24 June 2024 in response to Russia's war of aggression against Ukraine. It built on thirteen previous packages issued since February 2022 and was notable for tackling several issues that earlier rounds had left untouched.

Key elements included:

• Liquefied natural gas (LNG): For the first time, the EU restricted Russian LNG. The package banned the use of EU ports, terminals, and services for the transshipment of Russian LNG to third countries, and prohibited new investments and services for LNG projects under construction in Russia such as Arctic LNG 2 and Murmansk LNG. It did not, however, ban direct imports of Russian LNG into the EU.
• Shadow fleet: The package introduced individual listings of vessels involved in circumventing the oil price cap, transporting Russian oil, weapons, or stolen Ukrainian grain. Listed ships are denied port access and services.
• Anti-circumvention: A new provision required EU parent companies to undertake "best efforts" to ensure their non-EU subsidiaries do not undermine sanctions. The package also tightened rules on the re-export of battlefield goods through third countries.
• SPFS ban: EU entities outside Russia were prohibited from connecting to Russia's System for Transfer of Financial Messages (SPFS), the central bank's alternative to SWIFT.
• Frozen assets: It complemented the separate decision to channel windfall profits from immobilised Russian central bank assets held at Euroclear toward Ukraine.
• Listings: Additional individuals and entities were added to the asset-freeze and travel-ban annexes, including actors involved in the deportation of Ukrainian children and in disinformation.

The package was negotiated under the Belgian Council presidency and required unanimity among the 27 member states; Hungary secured carve-outs during the talks. It was followed by the 15th package in December 2024.