European Commission President Ursula von der Leyen and EU foreign policy chief Kaja Kallas on Friday, September 19, presented the bloc's new, 19th, package of sanctions against Russia, writes UNN.
Russia demonstrates its utter disregard for diplomacy and international law. So we are stepping up the pressure. With the 19th package of sanctions, covering energy, financial services and trade restrictions.
"Moscow believes it can continue its war. We are doing everything we can to make it pay for it. Today we are presenting our 19th package of sanctions. Every sanction reduces the Kremlin's ability to wage war. We will not stop pressuring Russia until it ends its war," Kallas said in turn.
What is proposed
In particular, according to the head of the European Commission, it is proposed to ban the import of Russian LNG to European markets.
"First, about energy. Russia's war economy is supported by fossil fuel revenues. We want to cut these profits. Therefore, we are banning the import of Russian LNG to European markets. It's time to turn off the tap. We are ready for this. We are saving energy, diversifying supplies and investing in low-carbon energy sources like never before. Today, these efforts are bearing fruit," von der Leyen said.
Kallas added: "Our goal is to accelerate the phase-out of Russian liquefied natural gas by January 1, 2027."
Also, according to the head of the European Commission, the oil price cap was recently lowered to 47.6 US dollars.
"To strengthen control, we are now imposing sanctions on 118 additional vessels from the shadow fleet. In total, over 560 vessels are now under EU sanctions," von der Leyen continued.
As Kallas added, money from energy sales supports Russia's war. "Therefore, we are fighting these revenues by including 118 new vessels in the list of the shadow fleet and intermediaries, and by prohibiting the re-insurance of these vessels."
According to von der Leyen, "large energy trading companies Rosneft and Gazpromneft will now be under a full transaction ban. The assets of other companies will also be frozen."
She added that the EU is now targeting "those who fuel Russia's war by buying oil in violation of sanctions." "We are targeting oil refineries, oil traders and petrochemical companies in third countries, including China." At the same time, the head of the European Commission indicated that over three years, Russia's profits from oil sales in Europe have fallen by 90%. "Now we are finally turning this page," she emphasized.
"Secondly, we are targeting financial loopholes that Russia uses to circumvent sanctions. We are introducing a transaction ban for additional banks in Russia and third countries. We are strengthening the fight against sanctions circumvention. As evasion tactics become more sophisticated, our sanctions will adapt to stay one step ahead. Therefore, for the first time, our restrictive measures will affect cryptocurrency platforms and prohibit cryptocurrency transactions. We are adding foreign banks associated with Russian alternative payment systems to the (sanctions) list. In addition, we are restricting transactions with organizations in special economic zones," von der Leyen said.
The EU's foreign policy chief added that the Kremlin's war depends on illegal money flows. "We aim to stop them at the root. That is why we propose to take action against Russian financial evasion schemes in third countries, including the use of cryptocurrency. We are also targeting the Russian MIR credit card system. We want to hit where Russia gets its money. No sector is off-limits," Kallas said.
"Moving on to the third point. We are adding new direct restrictions on the direct export of goods and technologies used on the battlefield. We are also adding 45 companies from Russia and third countries to the (sanctions) list," the head of the European Commission said.
According to her, these companies provided direct or indirect support to the Russian military-industrial complex. "In a war based on innovation, limiting Russia's access to key technologies is crucial. First and foremost, when it comes to drones," she said.
Kallas added that the new package of sanctions will include "new industrial players who contribute to generating revenue for Russia." "We must stop supplying the Russian military industry so that it cannot fuel its war machine. We are adding more chemicals, metal components, salts and ores to our export bans and strengthening export controls over enterprises from Russia, as well as China and India."
"Our message is clear: if you facilitate Russia's war and try to evade our sanctions, you will face consequences," the EU's foreign policy chief emphasized.
"Today we are proposing a list of major players in third countries, such as China, who support the Russian military-industrial complex," Kallas added.
Von der Leyen emphasized: economic analysis shows that sanctions are seriously affecting Russia. "Russia's overheated war economy is reaching its limit. Even more interesting is that when communicating directly with partners who interact with Russia, they say that one of Russia's first requests is to ease sanctions. We know that our sanctions are an effective tool of economic pressure. And we will continue to apply them until Russia sits down at the negotiating table with Ukraine for a just and lasting peace," von der Leyen said.
Kallas also touched upon the topic of the deportation of Ukrainian children.
"Tearing children away from their families and deporting them to re-education camps is beyond description. We will not allow Russia to weaponize childhood. We are also going to simplify the application of sanctions against individuals involved in the abduction and ideological indoctrination of Ukrainian children," Kallas said.
Frozen assets of the Russian Federation
"In parallel, as I announced last week, we are working on a new solution for financing Ukraine's defense efforts with frozen Russian assets. We must be clear: this is Russia's war, and the culprit must pay for it. By using the remaining funds associated with these Russian assets, we can provide Ukraine with a reparations loan. The assets themselves will not be affected. And the risk will have to be borne collectively. Ukraine will repay the loan only after Russia pays reparations. We will put forward a proposal soon," von der Leyen noted.
Coordination within the G7 and the "coalition of the willing"
"And finally, we are coordinating our sanctions with our G7 partners under the Canadian presidency. And to support Ukraine in its fight for freedom, we are also working closely with the 'coalition of the willing'," the head of the European Commission emphasized.
Expectations for the adoption of the 19th package of sanctions against the Russian Federation
Von der Leyen noted: "Europe has been on Ukraine's side from the very beginning. Faced with escalation from Russia, Europe has risen to the challenge. We will continue to use all tools at our disposal to end this brutal war. I call on member states to immediately approve new sanctions. We want Russia to leave the battlefield and sit down at the negotiating table. This is the way to give peace a real chance," von der Leyen emphasized.