Finance
EU proposes sanctions on Georgian, Indonesian ports for handling Russian oil
Published by Global Banking & Finance Review®
Posted on February 9, 2026
2 min readLast updated: February 9, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on February 9, 2026
2 min readLast updated: February 9, 2026
The EU proposes sanctions on Georgian and Indonesian ports handling Russian oil, impacting trade and financial institutions.
BRUSSELS, Feb 9 (Reuters) - The EU has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time it would target ports in third countries, a proposal document showed on Monday. The proposal, reviewed by Reuters, would add Kulevi in Georgia and Karimun in Indonesia to the sanctions list, meaning European companies and individuals would be barred from carrying out transactions with the two ports.
The sanctions package, which would be the 20th imposed by the EU over Russia's actions in Ukraine, was jointly proposed by the EU's diplomatic arm, known as the EEAS, and the bloc's executive, the European Commission.
The package also includes new import bans on metals including nickel bars, iron ores and concentrates, unrefined and processed copper as well as various scrap metals such as aluminium. The package also bans imports of salt, ammonia, pebbles, silicon and furskins.
The EU also proposes to list two more Kyrgyz banks for providing crypto asset services to Russia - Keremet and OJSC Capital Bank of Central Asia - as well as a bank in Laos and a bank in Tajikistan, while removing two Chinese lenders.
(Reporting by Julia PayneEditing by David Goodman and Peter Graff)
A sanction is a penalty or restriction imposed by one country or group of countries on another, often to influence behavior or policy.
Oil trading involves the buying and selling of crude oil and its derivatives, which are essential commodities in global markets.
A third-country refers to a nation that is not part of a specific agreement or union, often used in the context of trade and sanctions.
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