The European Union has approved the 19th sanctions package against the Russian Federation, aimed at further increasing pressure to limit the financing of Russia’s war against Ukraine. The new restrictions cover the financial sector, energy resources, and shipping, as well as additional diplomatic measures.
This is reported by Finway
Restrictions on the Financial Sector and Energy
The sanctions target banks and cryptocurrency exchanges that have been used by Russia to circumvent previous sanctions. Companies from third countries, including India and China, that have helped Russia obtain critical goods and technologies despite existing international restrictions are also banned.
The sanctions package includes a gradual ban on the import of Russian liquefied natural gas (LNG). According to the new rules, short-term contracts will be terminated within six months, while long-term contracts will end on January 1, 2027.
Strengthening Sanctions Against the Shadow Fleet and Technologies
The EU has added another 117 vessels from the shadow fleet to the blacklist, bringing the total number of sanctioned vessels to 558. The ban on the use of financial messaging systems has also been expanded, particularly concerning Russian payment cards “Mir.”
The new sanctions package also includes a ban on the export to Russia of a range of goods worth over €40 billion that could be used by the Russian defense industry.
In addition to economic restrictions, diplomatic pressure has been intensified: the movement of Russian diplomats within the territory of the European Union has been further restricted.