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EU Hits Russia with 19th Sanctions Package
(MENAFN) European Commission President Ursula von der Leyen revealed on Friday the EU's proposed 19th round of sanctions on Russia, with a sharp focus on the energy and financial sectors.
The new measures, outlined in an official statement, include a ban on Russian liquefied natural gas (LNG) imports into the European market. Additionally, the EU plans to reduce the price cap on Russian crude oil to $47.6 per barrel. The sanctions will also impose a full trading ban on major Russian energy giants Rosneft and Gazpromneft.
In a significant expansion, the EU will extend the sanctions to encompass cryptocurrency platforms, marking the first time such entities will be targeted. Furthermore, the measures include a broader ban on transactions involving Russian financial institutions and those in other countries, further isolating Russia’s economic ties.
As per EU procedures, all 27 member states must unanimously approve the proposed sanctions before they can be enforced.
The new measures, outlined in an official statement, include a ban on Russian liquefied natural gas (LNG) imports into the European market. Additionally, the EU plans to reduce the price cap on Russian crude oil to $47.6 per barrel. The sanctions will also impose a full trading ban on major Russian energy giants Rosneft and Gazpromneft.
In a significant expansion, the EU will extend the sanctions to encompass cryptocurrency platforms, marking the first time such entities will be targeted. Furthermore, the measures include a broader ban on transactions involving Russian financial institutions and those in other countries, further isolating Russia’s economic ties.
As per EU procedures, all 27 member states must unanimously approve the proposed sanctions before they can be enforced.
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