The European Union has approved its 19th sanctions package against Moscow, banning imports of Russian liquefied natural gas (LNG) for the first time. The move, announced Wednesday, marks the bloc's most significant energy decision since the war in Ukraine began in 2022.

Short-term contracts will end within six months, while long-term ones will expire by January 2027 - a year earlier than planned. The EU said the step is aimed at cutting reliance on Russian energy and depriving the Kremlin of vital revenues.

The package also includes restrictions on Russian diplomats, new measures against banks in Belarus and Kazakhstan, and the blacklisting of 117 more ships tied to Moscow's“shadow fleet.”

At the same time, the United States unveiled its first sanctions under President Donald Trump's second term, targeting Russian oil giants Rosneft and Lukoil. U.S. Treasury Secretary Scott Besant said the move was a response to President Vladimir Putin's refusal to end the“senseless war.”

Brent crude prices rose over $2 to $64 a barrel following the twin sanctions. Analysts say the joint actions show a tougher Western stance on Moscow, though they may also drive global energy prices higher in the short term.

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