Understanding the EU’s 18th Sanctions Package Against Russia: Implications for Global Trade and Compliance

The European Union has adopted its 18th sanctions package against Russia, one of its most far-reaching to date. At the heart of the package is a revamped oil price cap set at 15% below the global average, aimed at undermining Russia’s energy revenues. The measures also expand restrictions on Russia’s “shadow fleet” of oil tankers, ban all transactions related to the infrastructure of the Nord Stream pipelines, target refined petroleum imports from third countries, and impose new controls on facilitators and suppliers across China, Türkiye, and India. These steps underscore the EU’s intensifying focus on sanctions enforcement, circumvention risks, and strategic decoupling from Russian energy.

In this 20-minute Quick Take, learn about the key measures of the new sanctions package and what they mean for global business and compliance teams. We explore how intra-EU negotiations—particularly Slovakia’s concerns over energy—shaped the final outcome, and compare the EU’s approach to parallel U.K. measures. 

Gain insight into key compliance risks, including a case study on corporate exposure via third-country intermediaries, and leave with a clear view of what the EU’s evolving enforcement strategy means for the road ahead.

Speakers:

Freya Page, Director of Global Outreach, Kharon

Freya has substantial experience working as a sanctions specialist, working with the public and private sectors to ensure UK financial sanctions are properly implemented, enforced, and understood. Starting in the sanctions and illicit finance field with HM Treasury in 2015 she went on to be a founding team member of the UK's Office of Financial Sanctions Implementation (OFSI). 

Freya has undertaken roles across Compliance, Enforcement, Guidance and Engagement. Freya joined Kharon in October 2023, working across several country sanctions regimes and speaking regularly to help government, industry, and NGOs understand, manage, and promote sanctions risk solutions.

Alberto Ballesteros, Program Manager, Kharon

Alberto works as a Program Manager with the Kharon Global Knowledge Engagement Team, developing and delivering trainings to industry and public institutions on sanctions, export controls, supply chain risks, and related risk areas. He previously coordinated international technical assistance on counter-proliferation finance at the United Nations Office on Drugs and Crime. Alberto holds a master's degree in Intelligence and International Security from King's College London and has a bachelor's degree in International Relations and Business Management from the Comillas Pontifical University in Madrid, Spain.