Ukraine Synchronized Sanctions With the European Union and Imposed Restrictive Measures on Russian Entities Involved in Arctic Resource Extraction

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President of Ukraine Volodymyr Zelenskyy has signed two decrees enacting the decisions of the National Security and Defense Council of Ukraine regarding the synchronization of the EU's 19th sanctions package and the introduction of restrictions on Russian entities engaged in Arctic resource extraction.

As of today, the EU's 19th sanctions package comes into effect in Ukraine. It includes 14 individuals and 57 legal entities involved in supporting Russia's war machine and circumventing sanctions. The package targets Russian resource exports and schemes for supplying electronic components to Russia. The overall impact of the 19th package on curbing Russia's income is estimated at no less than tens of billions of euros annually.

Among those sanctioned are the leadership of strategic Russian and Belarusian enterprises; individuals involved in "re-educating" children and adolescents in temporarily occupied territories; Russian defense industry enterprises; cryptocurrency exchanges; a gold mining company; and companies purchasing crude oil of Russian origin.

Since the beginning of the year, Ukraine has already synchronized 12 sanctions packages with partners, including the United Kingdom, Canada, the United States, Japan, and the European Union.

The second decree concerns sanctions against Russian entities involved in Arctic resource extraction. It includes 18 individuals and 36 legal entities responsible for the extraction and export of Russian energy resources, as well as developers and manufacturers of military engineering equipment.

Sanctions have also been applied to companies engaged in industrial research, geological exploration, mineral resource development, and raw material production, as well as those involved in exporting Russian coal via maritime routes to circumvent sanctions using intermediary companies.

"We already know that our partners will follow suit by incorporating our proposals into their own sanctions packages. I thank everyone who is helping," the President of Ukraine noted.

The Head of State has instructed the preparations for new decisions by the National Security and Defense Council of Ukraine based on relevant submissions concerning entities in Russian propaganda and military production, as well as collaborationists.

"We will also issue a sanctions response to Russia's measures against the Prime Minister of Ukraine and other government officials. Of course, unlike global sanctions, Russian sanctions do not pose any real problems. But at a time when the majority of the world is working with us to do everything possible to end this war, any Russian escalation, including propaganda actions, deserves a proper and tangible response," Volodymyr Zelenskyy emphasized.