EU Unveils 19th Sanctions Package Targeting Russian Energy

Over three years, Russia's revenues from oil sales in Europe have decreased by 90 percent, and in the near future, this could approach 100 percent. Europe intends to deprive Moscow of all the means necessary for war.

The European Union has introduced the 19th package of sanctions. According to von der Leyen, the EU intends to sharply reduce Russia's revenues from fossil fuels by banning the import of Russian liquefied natural gas to European markets. The EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, added that it is proposed to completely ban the import of Russian gas by January 2027.

Another 118 ships of the Russian "shadow fleet" will be added to the sanctions list, bringing their total number to 560. "Major energy trading companies, Rosneft and Gazpromneft, will now be subject to a complete ban on transactions, and the assets of other companies will be frozen," said von der Leyen, adding that "in three years, Russia's oil revenues in Europe have decreased by 90%."

The new package will also target oil refining, oil trading, and petrochemical companies in third countries, including China, which are accused of buying oil in violation of sanctions.

In order to tighten financial pressure, transactions with additional Russian banks and financial institutions operating in third countries will be banned. For the first time, measures will be applied against crypto platforms, transactions with cryptocurrency will be banned, and foreign banks associated with Russian alternative payment systems will be included in the sanctions list.

In addition, the direct export of goods and technologies used on the battlefield to Russia will be banned, which will affect 45 companies in Russia and third countries. The restrictions will also apply to artificial intelligence and geospatial data technologies.

Ursula von der Leyen noted that although Russian frozen assets "will not be touched," Ukraine will receive loans that will be repaid at the expense of future reparations to be paid by Russia.

Kaja Kallas, in turn, emphasized: "Any source of income for the Kremlin to continue its aggression is a target." According to her, Europe wants peace for Ukraine, but Russia's aggression cannot go unanswered. "Our message is clear: we will increase pressure on Russia, combining it with military support for Ukraine, until Russia accepts a real, just, and lasting peace."