European Commission President Ursula von der Leyen presented a new, 20th, package of EU sanctions against Russia, which provides for a complete ban on the sea transportation of Russian oil, an expansion of sanctions against the "shadow fleet", measures regarding financial services and trade, calling on EU countries to quickly approve these new sanctions, as she stated on Friday, writes UNN.
The European Commission proposes a new package of sanctions - the 20th since the beginning of Russia's war against Ukraine. The new package of sanctions covers energy, financial services and trade.
Energy
"Regarding energy, we are introducing a complete ban on the sea transportation of Russian oil. This will further reduce Russia's energy revenues and make it more difficult to find buyers for its oil. Since shipping is a global business, we propose to introduce this complete ban in coordination with like-minded people after the G7 decision," the head of the European Commission noted.
According to her, an expansion of sanctions against the "shadow fleet" is also proposed.
"We are adding another 43 vessels to the shadow fleet list, bringing their total number to 640. We are also making it more difficult for Russia to acquire tankers for use by the shadow fleet and adding extensive prohibitions on the provision of technical maintenance and other services for LNG tankers and icebreakers to further undermine gas export projects. This complements our ban on LNG imports, agreed with the 19th package and the RepowerEU Regulation," von der Leyen noted.
EU diplomacy chief Kaja Kallas added that it is proposed "to impose sanctions against dozens of companies in Russia's energy sector, as well as against those located in Russia and abroad that ensure the activities of its shadow fleet, including port terminals, and to add more than 40 vessels to our list."
"We aim to change the rules regarding the oil price cap to ensure a complete ban on sea transportation in the future," Kallas said.
Financial services
"We are also presenting a second block of measures to further restrict Russia's banking system and its ability to create alternative payment channels to finance economic activity," von der Leyen said.
The European official emphasized that "this is Russia's weak point, and we are putting strong pressure on it."
"We are adding another 20 Russian regional banks to the list and will take measures against cryptocurrencies, companies that trade them, and platforms that allow cryptocurrency trading to close the path for circumventing sanctions. We are also targeting several banks in third countries involved in facilitating illegal trade in sanctioned goods," von der Leyen indicated.
"More banks supplying funds to the Kremlin will face transaction bans, both in Russia and in third countries. All of them will be disconnected from SWIFT. We will also ban Russia's central bank digital currency, take more measures regarding cryptocurrencies, and prohibit interaction with Russian crypto-asset service providers," Kallas explained.
Trade
"With the third block of measures, we are strengthening export restrictions to Russia with new bans on goods and services - from rubber to tractors and cybersecurity services, worth over 360 million euros," the head of the European Commission announced.
"We are also introducing new import bans on metals, chemicals, and critical minerals that are not yet under sanctions, worth over 570 million euros. And we are introducing further export restrictions on goods and technologies used by Russia for combat operations, such as materials used for the production of explosives. We propose a quota on ammonia to limit existing imports," von der Leyen indicated.
"The destruction of Russia's military-industrial base and its international supply chains is a means to stop it. More than 40 companies in Russia and third countries are proposed for 'full sanctions' to further disrupt Russia's production lines. We also propose new export restrictions and bans on materials and technologies, such as laboratory glassware, chemicals, rubber, and metal production tools; as well as strengthening export controls related to more than 50 companies in Russia and abroad," Kallas explained.
"To demonstrate our determination to reduce sanctions circumvention, we are activating the anti-circumvention tool for the first time, prohibiting the export of any numerically controlled machines and radio receivers to jurisdictions where there is a high risk of re-exporting these products to Russia," von der Leyen continued.
Kallas indicated that this is the first time it is proposed to activate the EU's Anti-Circumvention Instrument in one country to prevent sensitive goods from reaching Russia.
Also, according to von der Leyen, "strengthened legal guarantees for EU companies are proposed to protect them from violations of their intellectual property rights or from unfair expropriation in Russia due to abuse of court decisions in connection with sanctions."
"We will continue to apply sanctions to those responsible for war crimes and crimes against children, the appropriation of Ukrainian cultural heritage, or the dissemination of Russian propaganda," Kallas added.
Now I call on the Member States to swiftly approve these new sanctions. By doing so, you would send a powerful signal ahead of the grim 4th anniversary of this war: our commitment to a free and sovereign Ukraine is unwavering. And, for that matter, it grows stronger day by day, month by month, year by year.
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