EU presents 19th package of sanctions against Russia

The European Commission officially presented to the Member States 19th package of sanctions against Russia.

The EU's proposals focus on energy (in particular, Russian LNG), the financial sector, crypto platforms, and the fight against circumvention of restrictions through the «shadow fleet» and intermediaries in third countries. The final decision must be taken unanimously by the EU Council.

What happened

The European Commission has handed over a package of new measures to EU countries that should «increase pressure on Russia's military economy». This was stated by EC President Ursula von der Leyen and EU High Representative for Foreign Affairs and Security Policy Kaja Kallas.

Key elements of the 19th package

1) Energy

• Accelerated termination of Russian LNG imports: it is proposed to ban the import of LNG from Russia to 1 January 2027 (previously planned for later). Steps are also being prepared in relation to large energy companies in Russia.

2) Financial sector and crypto

• Expansion of restrictions against Russian banks and strengthening control over crypto platforms, The company has been using the technology to circumvent sanctions.

3) Combating sanctions circumvention

• Additional measures against the «shadow fleet» of tankers transporting Russian oil bypassing restrictions; the list is to include another 118 vessels. Intermediaries in China, Central Asia and other jurisdictions are also in the crosshairs.

4) Personal and sectoral listings

• Expanding the list of companies and individuals supporting the Russian military-industrial complex and aggression against Ukraine; among the focuses are trading houses, oil traders, logistics, IT and dual technologies.

Political context and procedure

The package must be approved by The EU Council unanimously. The position of some capitals, in particular Budapest, may influence the final parameters: according to media reports, Brussels is ready to unblock some funds for Hungary to ensure support for the package.

Why it matters

The EU aims to simultaneously cut Russia's energy revenues, The aim is to cut off circumvention channels and increase pressure on Russia's financial infrastructure. This is another step in the strategy of long-term depletion of the Russian military economy and support for Ukraine.

What's next

• The Commission is awaiting discussion and adoption of the package by Member States.

• If approved, the EU will start implementing the new restrictions in stages, in particular on LNG, the shadow fleet and financial transactions.

Sources.

EEAS / statement by K. Kallas; Reuters; Financial Times; European Pravda; The Kyiv Independent.