European Commission President von der Leyen declares the 19th round of EU sanctions targeting Russia, following discussions with President Trump.
The European Commission has announced its intention to propose accelerating the phase-out of Russian fossil fuel imports as part of the 19th sanctions package against Russia. This move is aimed at reducing the EU's reliance on Russian fossil fuels and increasing economic pressure on Russia.
The proposal comes in response to the ongoing conflict in Ukraine and is a joint effort between the European Commission and the United States. Germany and France have proposed the sanctions package, which targets crypto service providers, banks (including foreign institutions connected to Russia's SPFS system), and companies in sectors such as energy, machinery, and aviation.
The sanctions are intended to hit Russia's war economy, which is heavily dependent on revenues from fossil fuels. European Commission President Ursula von der Leyen stated that Russia's war economy is financing the bloodshed in Ukraine.
The work on the 19th EU sanctions package might be completed by the end of the week. However, the announcement was postponed previously following demands from former US President Donald Trump.
In a phone conversation between von der Leyen and Trump, the details of the sanctions package were discussed. President Volodymyr Zelenskyy of Ukraine has also urged for strong action, asking for security guarantees to stop the Kremlin leader and end the war.
Zelenskyy has also urged the White House to take a "clear position" on sanctions against Russia and security guarantees for Ukraine. The statements were made on von der Leyen's Twitter account.
The US proposal for sanctions against Russia requires all NATO countries to stop purchasing Russian oil. However, the European Union has not yet made a similar commitment, raising concerns about potential tariffs on India and China due to export market reliance.
The sanctions against Russia's crypto assets, banking, and energy sectors are expected to be presented by the European Commission in the coming days. The proposal will then need to be approved by member states before it can be implemented.
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