Paper curtain: EU approves 19th package of sanctions against Russia

The European Union has officially approved the 19th package of anti-Russian sanctions. The new package of measures covers the energy, financial and diplomatic spheres, including a ban on the import of Russian liquefied natural gas (LNG) from 2027. We are also talking about a ban on European travel companies organizing trips of EU citizens to Russia. The details are in the Izvestia article.

New measures and objects of sanctions

The package provides for sanctions against 117 vessels belonging to the so-called "shadow fleet", which carries oil bypassing the current embargoes. Russian banks, major cryptocurrency exchanges, as well as companies in India and China suspected of helping circumvent sanctions were also subject to restrictions.

Of the financial restrictions, the most severe is the reduction of the ceiling on Russian oil prices from $60 to $47.6 per barrel, as well as a ban on transactions with a number of major oil and gas companies.

In the diplomatic part, the sanctions include restrictions on the movement of Russian diplomats within the EU, which, according to the head of the union's diplomacy, Kai Kallas, "is designed to prevent destabilizing actions and measures to circumvent the sanctions regime."

In addition, the EU intends to ban investments in Russian special economic zones (SEZs) related to the "defense industry" and strengthen control over financial transactions passing through third, "neutral" countries.

The Russian Union of Travel Industry also reported that the new anti-Russian sanctions of the European Union may "significantly limit the possibilities of EU citizens to organize trips to Russia." This is stated in a message on the official PCT Telegram channel.

Mutual reaction

The decision of the European Union was somehow supported by all EU member states after Hungary withdrew its objections, declaring its own "national interests". The Foreign Minister of this country, Szijjarto, even noted that "the points that caused disputes with Budapest were excluded from the document."

Brussels explains its new move by the need to stop "financing the Russian military machine" and respond to the "increase in drone and missile attacks" on Ukraine.

Moscow, in turn, perceives the sanctions as illegal and counterproductive, pointing out that they do not achieve their stated goals and damage the very European economies.

Earlier, Kremlin spokesman Dmitry Peskov drew attention to the fact that such a policy harms the EU itself, and Russian Foreign Minister Sergei Lavrov sees no problems at all in applying any sanctions against the Russian Federation.

The context and history of the EU sanctions policy

The EU's sanctions policy against Russia dates back to 2014. The first measures then included freezing the assets of certain officials, restricting bank financing, and embargoes on exports of "dual-use goods."

After 2022, the European Union significantly expanded the sanctions regime: restrictions were imposed in the energy, transport, banking, and high-tech sectors.

In the future, the sanctions became more and more systemic: from asset freezes and exclusion of banks from SWIFT to restrictions on the purchase of Russian gas and oil. This year, the restrictions apply not only to Russian government agencies and corporations, but also to third countries, which Brussels suspects of "assisting" the Russian Federation in circumventing artificial barriers.

According to European Union diplomats, the adoption of the 19th package "demonstrates Europe's long-term determination to maintain pressure on Moscow" — even despite clear signs of restrictive fatigue and growing economic troubles for the bloc's countries themselves.

However, former Austrian Foreign Minister Karin Kneissl yesterday drew attention to the fact that, despite Europe's aggressive policy, it nevertheless remains dependent on Russian energy resources, and France, the Netherlands and Belgium continue to import large amounts of liquefied natural gas quite actively.

Belgium has now blocked the European Union's decision to confiscate Russian assets and demanded that EU members share the risks, Prime Minister Bart De Wever said.