The European Union has officially approved its 19th sanctions package targeting the Russian Federation, which includes a full ban on the import of Russian liquefied natural gas (LNG). The decision was announced by the EU’s top diplomat, Kaja Kallas, reports Baltimore Chronicle with reference to io.com.ua.
According to Kallas, the new measures will impact the banking sector, cryptocurrency exchanges, as well as organizations operating in China and India. The sanctions aim to further restrict Russia’s ability to finance its war against Ukraine and to close loopholes previously used to circumvent economic restrictions.
Under the new rules, the ban on Russian LNG shipments to EU countries will take effect in six months for short-term contracts and from January 1, 2027, for long-term contracts. Additionally, all cryptocurrency services for Russian citizens are now fully prohibited.
The 19th package also targets 117 vessels from Russia’s so-called “shadow fleet,” which have been used to bypass oil sanctions. Banks in Kazakhstan and Belarus that facilitate Russian financial operations are also included, along with four Chinese companies linked to the oil industry that supply equipment for Russia’s energy sector.
The EU continues to intensify its sanctions, aiming to cut off key revenue streams for Russia and its partners that help evade prior restrictions.
Earlier we wrote that EU Faces Criticism for Pausing Sanctions on Israel Amid Trump Gaza Peace Efforts.
