EU Introduces Comprehensive 19th Sanctions Against Russia

The European Commission has presented its 19th package of sanctions against Russia, covering energy, finance, the shadow fleet, crypto platforms, and companies in Russia and third countries, in order to halt the Kremlin's military economy and make it more difficult to evade sanctions.

The Gaze reports on it, referring to a statement by the European Commission President, Ursula von der Leyen, on the 19th package of sanctions against Russia.

The President of the European Commission said that Russia's actions over the past month demonstrate a rejection of diplomacy and disregard for international law, including large-scale attacks on Ukraine and violations of EU airspace.

“These are not the actions of someone who wants peace. Again and again, President Putin has escalated. And in response, Europe is increasing its pressure. This is why today I am presenting our 19th package of sanctions,” she said.

The first block of the new sanctions package targets the energy sector. Thus, the import of Russian liquefied natural gas (LNG) into the EU is prohibited until January 1, 2027.

The head of the European Commission also recalled that the EU recently managed to lower the upper limit on the price of crude oil to $47.6.

“To strengthen enforcement, we are now sanctioning 118 additional vessels from the shadow fleet. In total, more than 560 vessels are now listed under EU sanctions,” she stated, adding that large energy companies Rosneft and Gazpromneft are also completely deprived of the opportunity to operate in the EU.

In addition, the sanctions cover oil refineries, traders, and petrochemical companies in third countries, including China.

“In three years, Russia's oil revenues in Europe have gone down by 90%. We are now turning that page for good,” emphasized the President of the European Commission.

The second set of sanctions concerns the financial sector. The EU prohibits transactions for additional Russian banks and banks in third countries, restricts financial transactions through special economic zones, and, for the first time, restricts the activities of crypto platforms and transactions in cryptocurrency.

The third block targets defense technologies. The export of goods and technologies that can be used on the battlefield is restricted, and 45 companies in Russia and third countries that support the Russian military-industrial complex, particularly in the field of drones, are included in the list.

Ursula von der Leyen stressed that sanctions remain an effective tool for influencing the Russian economy, and the EU plans to continue applying them until Russia agrees to negotiate a just and lasting peace with Ukraine.

At the same time, the European Commission is developing a mechanism to finance Ukraine's defense efforts through immobilized Russian assets.  

“We must be very clear: This is Russia's war, and the perpetrator must pay for it. With the cash balances associated to these Russian assets, we can provide Ukraine with a Reparations Loan,” said von der Leyen.

According to her, Ukraine is expected to receive a loan secured by reparations, which will be repaid only after Russia fulfills its obligations. The proposal will be presented in the near future.

As The Gaze reported earlier, European Council President António Costa has invited EU leaders to an informal meeting in Copenhagen on October 1 to discuss strengthening European defense readiness and further support for Ukraine.