EU Blacklists Nearly 1,600 in Russian Defence Firms and Executives

The Council of the European Union has added 826 Russian companies and 743 of their chief executives to its sanctions list, the largest single set of listings it has ever agreed. The designations bring the total under the regime protecting Ukraine’s territorial integrity to nearly 4,600.

The package targets mid-level suppliers described as the core of Russia’s defence industry, including makers of components for ballistic missiles, drones and aircraft. Together the listed companies are said to have annual turnover of at least €20 billion and more than 250,000 employees.

Those listed face an asset freeze and EU travel ban, and EU persons are barred from making funds available to them. Firms in electronics, telecoms, aerospace and industrial technology are likely to need to re-screen counterparties in light of the scale of the additions.

Article Credit: https://www.occrp.org/en/news/eu-blacklists-nearly-1600-in-russian-defense-firms-and-executives