The European Commission has approved the 19th sanctions package against the Russian Federation, which includes a number of stringent restrictions for Russia’s energy and financial sectors.
This is reported by Business • Media
New EU Sanctions: What Will Change
As part of the new package, the EU government has proposed a complete ban on the import of liquefied natural gas from Russia. In addition, 118 ships from the so-called “shadow fleet” that are used to circumvent international restrictions will also be added to the sanctions list. European companies will no longer be allowed to conduct financial transactions with Russian companies “Gazpromneft” and “Rosneft.”
“In total, over 560 Russian vessels are under EU sanctions.”
Additionally, 45 companies linked to supporting the Russian military-industrial complex will be included in the sanctions list, as well as enterprises from third countries that assist in circumventing restrictions. For the first time, cryptocurrency platforms that help Moscow evade Western sanctions may also be subject to sanctions. New restrictions for Russian banks and financial institutions from third countries are also expected.
Negotiations with Hungary and US Initiatives
To overcome resistance from Hungary, which has repeatedly blocked sanctions decisions and refused to reduce its dependence on Russian energy resources, the European Commission plans to unfreeze about 550 million euros from EU funds for this country. This is intended to help persuade Viktor Orban’s government to support new restrictions against Russia.
Meanwhile, the US Senate has already developed a third consecutive bill aimed at strengthening sanctions against Russia. The bipartisan initiative includes new restrictions for the “shadow fleet,” liquefied gas production projects, and the Russian military-industrial complex.
The approval of the 19th sanctions package by the EU is expected to take place after the Council of the European Union agrees to it.