France and Germany have proposed to include key energy companies of the Russian Federation, including “Lukoil” and Litasco, in the 19th package of European Union sanctions. The aim of this initiative is to limit Moscow’s ability to raise financial resources to continue the war against Ukraine.
This is reported by Business • Media
Expansion of Sanctions Against the “Shadow Fleet” and Intermediaries
Paris and Berlin insist on strengthening sanctions against the so-called “shadow fleet” of tankers that facilitate the export of Russian oil. They also advocate for the implementation of secondary sanctions against intermediaries in third countries that help circumvent restrictions, as well as further tightening of import bans on other Russian goods that remain outside current sanctions.
Additional Economic Restrictions and Coordination with Partners
Among the proposals from France and Germany is the expansion of the recently strengthened price cap on Russian oil products. They believe that the EU should be prepared to include foreign refineries responsible for supplying fuel from Russian oil to the European market in the sanctions lists. There is also an emphasis on the need for coordination of actions with the United Kingdom and G7 partners to achieve maximum effect from the sanctions.
In addition to the energy sector, the proposals foresee deeper intervention in the financial infrastructure supporting the Russian Federation. The possibility of introducing new import bans or raising tariffs on goods from the Russian Federation that were previously unrestricted is being considered.
“It is expected that the European Union will impose sanctions on about 2,600 Russian individuals and companies as early as Friday.”
European Commission President Ursula von der Leyen stated that the EU is considering accelerating the phase-out of Russian energy resources within the framework of new restrictions against Moscow.
Ukraine, for its part, has synchronized new anti-Russian sanctions with the United Kingdom. The restrictions target individuals and companies that support the military-industrial complex, the “shadow fleet,” and the energy sector of Russia.