The administration of US President Donald Trump is developing a new package of sanctions aimed at increasing pressure on key sectors of the Russian Federation’s economy. According to reports, the restrictions may affect Russia’s banking system and the infrastructure that facilitates the transportation of Russian oil. These measures will be implemented if Vladimir Putin does not cease the war against Ukraine.
This is reported by Business • Media
US and EU Intensify Economic Pressure
The US has already informed its European allies of its readiness to implement new sanctions and has supported the European Union’s initiative to use frozen Russian assets to purchase American weapons intended for Ukraine. Ukrainian officials have also proposed their own vision for expanding sanctions to Washington, including a complete disconnection of Russian banks from the dollar system.
“Currently, Washington is assessing Moscow’s response to the first package of sanctions against ‘Lukoil’ and ‘Rosneft’. New sanctions, if approved, are planned to be introduced no earlier than November.”
The first package of sanctions has already impacted companies such as ‘Lukoil’ and ‘Rosneft’. If a decision is made, new restrictions could be introduced as early as November.
Europe Reduces Energy Dependence on Russia
The European Union is also increasing pressure on the aggressor country. British Prime Minister Keir Starmer has stated intentions to “remove Russian oil and gas from the global market” as part of efforts to end the war in Ukraine. Through large-scale projects in the US and Qatar, the EU aims to completely replace imports of Russian liquefied natural gas (LNG) with alternative supplies by 2027, without causing significant price fluctuations. Currently, the US provides over 50% of LNG supplies to Europe, and this share could rise to 70%.
At the same time, Qatar and the US have urged EU leaders to review corporate sustainability regulations that could pose threats to the uninterrupted supply of LNG to European consumers.