02/2026 EU Sanctions: 20th Sanctions Package Against Russia
Marine Insurance P&I Club News
On 23 April 2026, the Council of the European Union adopted its 20th package of restrictive measures against Russia, amending Regulation (EU) 833/2014 and Regulation (EU) 269/2014. These measures were implemented in Council Regulation (EU) 2026/506, Council Implementing Regulation (EU) 2026/509, and Council Regulation (EU) 2026/511 and published in the Official Journal of the EU.
The package comprises 120 individual and entity listings, the largest number in a single package in two years, together with a range of sectoral, trade, financial and anti-circumvention measures.
This update summarises the key measures of particular relevance to shipping, marine insurance, and related maritime services.
Key takeaways for Members
Significant expansion of the shadow fleet regime, including 46 newly listed vessels and new tanker sale due-diligence obligations.
Ban on financial services including insurance to LNG tankers: Russian-owned or flagged from 25 April 2026; all others operating in Russia or for use in Russia from 1 January 2027
Establishment of the legal basis for a future full maritime services ban for Russian crude oil and petroleum products, pending coordinated G7 implementation.
New transaction bans on 2 Russian ports – Murmansk and Tuapse, and the Karimun Oil Terminal in Indonesia
First use of the EU’s country-level anti-circumvention tool, targeting exports to the Kyrgyz Republic.
https://www.gard.no/en/circulars/02-2026-eu-sanctions-20th-sanctions-package-against-russia/
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