The European Commission has approved the 19th sanctions package against the Russian Federation, which includes a number of significant restrictive measures for the Russian economy and its partners.
This is reported by Finway
New Restrictions for Russian Energy Resources and Companies
The new sanctions package proposes a complete ban on the import of liquefied natural gas (LNG) from Russia to European Union countries. The EU also plans to expand the sanctions list by an additional 118 vessels belonging to the so-called ‘shadow fleet’ used by Russia to circumvent existing restrictions. Furthermore, companies such as Gazprom Neft and Rosneft will be prohibited from conducting any financial transactions within the EU.
In total, over 560 Russian vessels are currently subject to EU sanctions. For the first time, cryptocurrency platforms that assist Russia in evading Western restrictions may also be included in the sanctions list.
“The sanctions package also includes new restrictions for Russian banks and third countries, as well as against 45 companies from Russia and other states that support the Russian military-industrial complex.”
Attempts to Overcome Hungary’s Veto and U.S. Initiatives
To ensure the adoption of the package, the European Commission plans to unfreeze approximately 550 million euros from EU funds for Hungary. This move aims to overcome the veto of Prime Minister Viktor Orban, who has repeatedly blocked sanctions by refusing to reduce dependence on Russian energy resources.
At the same time, the U.S. Senate has developed a third bill aimed at intensifying sanctions pressure on Russia. This bipartisan initiative includes new restrictions for the ‘shadow fleet,’ liquefied gas production projects, and the Russian military-industrial complex. For the new European sanctions package to come into effect, it must be approved by the EU Council.