France and Germany propose EU sanctions against Lukoil and other oil players - Media

France and Germany propose that the European Union, as part of the 19th package of sanctions currently being prepared, target "Lukoil", a Russian oil company operating in Europe, as well as other non-EU players who help Russia sell its oil, UNN reports with reference to RTBF.

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Oil and gas sales are the main sources of financing Russia's war efforts against Ukraine, both countries emphasize in a working document. Therefore, in their opinion, it is important to further target players, companies and third countries that are at the center of these hydrocarbon sales, including "Lukoil", one of the last private groups in this sector in Russia. This company, one of the main oil producers in Russia, also owns gas stations in the EU, particularly in Belgium.

Paris and Berlin also want to strengthen sanctions against third countries that facilitate the circumvention of existing sanctions, for example, by targeting oil refineries supplied with Russian oil, which is then resold in the European Union under a different origin. The EU stopped all imports of Russian oil after the invasion of Ukraine. Slovakia and Hungary, however, were excluded from this issue due to their significant dependence on Russian oil.

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According to the publication, this document also recommends a further focus on the financial mechanisms that Russia uses to circumvent Western sanctions. Almost 250 small banks are involved in financial operations aimed at supporting the Russian military effort, this Franco-German document notes, which is a contribution to the discussion on new European sanctions. After the 18th package of sanctions adopted in mid-July, the European Union is preparing a new set of measures aimed primarily at reducing the oil wealth enjoyed by the Kremlin.

These proposals, which are currently being developed by the European Commission, will then have to be approved by the 27 EU member states. The United States has stated its readiness to impose new sanctions against Russia and called on Europeans to act in turn. EU Special Envoy for Sanctions David O'Sullivan was scheduled to meet with American officials in Washington on Monday to discuss the issue.

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