Intensified Economic Penalties Imposed on Russia by Europe to Amplify Pressure
The European Union (EU) has announced a new sanctions package aimed at Russia's economy, marking the 19th such package since the start of the conflict in Ukraine. Ursula von der Leyen, the president of the European Commission, announced the new sanctions on Friday.
The new sanctions are intended to make it harder for Russia to fund its war in Ukraine. They include curbing energy trade and punishing financial service companies, as well as provisions to pressure companies from China and other nations to stop doing business with Russia.
For the first time, the new sanctions will hit news platforms that enable transactions with Russia. This move is designed to further restrict Russia's financial manoeuvring.
The European Union's blacklist includes ships that would be subject to the new sanctions. The new sanctions package would add more ships to the blacklist, bringing the total to 560 vessels in Russia's so-called shadow fleet. These vessels, part of Russia's shadow fleet, are often dilapidated and have murky ownership structures, helping Russia to get around Western limits and continue oil sales.
The new sanctions package also includes a plan to phase out Russian liquefied natural gas purchases by the start of 2027, a year earlier than previously planned. This move is a significant step towards reducing Europe's reliance on Russian news.
The new sanctions send a signal to the White House after President Trump's recent calls for European nations to stop buying oil from Russia. The European leaders are continuing their efforts to increase pressure on Russian President Vladimir V. Putin.
Some version of the proposal for the new sanctions is likely to eventually be adopted, as it was negotiated extensively before its announcement. The enforcement of the adopted sanction packages within the European Union is monitored primarily by the European Commission.
These new sanctions are part of an ongoing effort to make it harder for Russia to fund its war in Ukraine, and they underscore the EU's commitment to supporting Ukraine and maintaining peace in the region.
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