Hungary's prime minister says the European Union must abandon its policy of sanctioning Russia for its war in Ukraine or risk causing an economic collapse.

The European Union is working on a new package of sanctions aimed at targeting the shadow fleet of tankers Russia is using to get its oil to market, according to people familiar with the matter.

EU member nations hope to approve the package by the end of the year, in time to adopt the sanctions on Feb. 24, 2025 — the third anniversary of Russia's full-scale invasion.

The European Union plans to impose sanctions on Russia's shadow fleet. These restrictions will be part of the next sanctions package, according to Bloomberg. Information about the European Union's plans to target Russia's shadow fleet,

According to the report, the EU may approve the new restrictions by the end of the year. The package includes restrictions against the "shadow fleet" and individuals involved in the illegal trade of Russian oil.

MEPs urge action against Russia’s 'phantom fleet,' calling for stricter checks, penalties, and a total ban on Russian fossil fuel imports to curb sanction evasion and safety risks.View on euronews

The European Parliament passed a resolution on 14 November, urging the EU to impose targeted sanctions on Russia's so-called shadow fleet, which enables the country to sell oil while circumventing Western price caps.

Members of the European Parliament have called on the European Union to intensify efforts against Russia’s "shadow fleet" and demand more targeted sanctions, according to the European Parliament. Russia is using old tankers to export crude oil and oil products abroad despite sanctions imposed by the EU,