The European Commission proposed on Friday its 19th package of sanctions against Russia over its full-scale invasion of Ukraine in 2022. Member states will now have to discuss the package before adopting it unanimously.
Here are the details:
Energy Measures
* A ban on Russian liquefied natural gas from Jan. 1, 2027, bringing forward the date from Jan. 1, 2028 that was proposed to member states via other legal texts
- The EU banned trans-shipments of Russian LNG in a previous package
- The EU will list 118 new vessels in Moscow's shadow fleet, bringing the total to over 560
- Ban on re-insuring listed vessels and reinsurance for used Russian aircraft
- Ends exemptions for Russian oil companies Rosneft and Gazpromneft
- List oil traders, refineries and petrochemical companies in third countries that breach sanctions including in China
| Read More: US Expands Sanctions to Greek Shipping Entities Engaged in Iran Trade |
Financial Measures
- A full transaction ban on more Russian banks and their operations in third countries
- A full transaction ban on cryptocurrency platforms as well as restrictions on crypto-services for Russian nationals
- Restriction on the Russian credit card system (MIR) and fast payments system (SBP) EXPORT BANS
- Tighter export controls on an additional 45 Russian and third country entities, including in China and India
- Bans on chemicals, metal components, salts, and ores useful to Russia's military
- Bans on investment in certain Special Economic Zones in Russia relevant for the war effort with the option to extend to list ports outside Russia used for weapons transfers or the shadow fleet
- Bans on high-tech services including geospatial information, AI, and high-performance computing
- Restrictions related to tourism in Russia
Source: Reuters
