EU Plans Far-Reaching Sanctions Against Russia This Autumn

On August 17, the European Union sanctioned five Russian defense industry executives, including Viktor Ivanov, director general of Roscosmos subsidiary NII TP, as part of a broader effort to target Russia’s military space sector.

Under these sanctions, Ivanov's assets in the EU are frozen, and he is barred from entering or transiting through EU territory. NII TP itself was added to the EU sanctions list on June 15. Once adopted, these new listings would immediately raise the total number of sanctioned Russian entities by a third. EU diplomatic sources told Reuters that the European External Action Service (EEAS) would propose targeting around 1,600 Russian individuals and entities, mostly linked to the military-industrial complex.

These designations will include travel and transaction bans, as well as asset freezes. The EEAS is expected to present the new sanctions list to EU countries in early September, with an aim to adopt them in October. The EU has already sanctioned nearly 3,000 people and companies. The latest 21st package of sanctions was approved in July, imposing curbs on Russia's banking sector and cryptocurrency networks.

Latvia's Prime Minister Andris Kulbergs told Politico that Latvia wants Brussels to provide €7 billion ($8.2 billion) under the EU’s next seven-year budget to cover military and economic costs of confronting Russia.