EU Regulators Advocate for Import Ban on Russian Liquefied Gas and Tightened Restrictions on Oil Sector
The European Union (EU) has proposed a new round of sanctions against Russia, marking the 19th package since Moscow's invasion of Ukraine. The proposal, led by EU Foreign Minister Kaja Kallas and presented by Commission President Ursula von der Leyen, aims to intensify pressure on Russia and curtail its war efforts.
If approved by the European Parliament, the sanctions will take a significant step sought by US President Donald Trump, who has expressed readiness to impose 'significant sanctions' on Russia once all NATO member countries stop buying Russian oil.
The EU's primary focus is on targeting Russian financial evasion schemes in third countries, including through cryptocurrencies. The sanctions are designed to cut off funding for Russia's war machine, with the objective of accelerating the progressive elimination of the import of Russian liquefied natural gas before January 1, 2027.
The ban on Russian liquefied natural gas import is a year earlier than originally planned, and it will extend to British ports as a result of the UK sanctions. Ships will be prohibited from entering British ports, and access to the UK Ship Register will be denied due to these sanctions.
The sanctions will also target ships and refineries that circumvent sanctions on Russian oil. Two oil tankers for transporting Russian oil to the Georgian port of Batumi are included in the UK sanctions.
Moreover, the sanctions will prohibit reinsurance for ships included in the list. The EU plans to include important actors from third countries, such as China, in the sanctions list, as they provide support to Russia's military-industrial complex.
The new sanctions will also affect entities from China and India, with more chemical products, metallic components, salts, and minerals subject to stricter export controls. The sanctions will facilitate the imposition of sanctions on individuals involved in the kidnapping and indoctrination of Ukrainian children.
The UK has announced sanctions against supporters of Russian President Vladimir Putin linked to Georgia. The 19th EU sanctions package against Russia also targets Russian banks and companies from Russia's allied countries, including China and India, that support Russia's military industry, by banning their access to EU capital markets and restricting transactions.
The sanctions additionally include export bans on goods and services that benefit the Russian defense sector and industrial capacities, and sanctions against over 100 ships in Russia's shadow fleet. In total, 118 new ships will be designated as shadow fleets and facilitators in the sanctions.
The EU's chief diplomat, Kaja Kallas, has defended that the sanctions pursue the money from energy sales that keeps Russia's war alive. The sanctions are part of the EU's ongoing efforts to support Ukraine and maintain peace in the region.
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