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The European Union’s new sanctions against Russia will affect the energy sector, the financial sector, and will also restrict the export of certain goods.
This was stated by European Commission President Ursula von der Leyen.
The first restrictions will apply to the energy sector, as Russia’s economy is supported by revenues from fuel sales.
“We want to reduce these revenues. That is why we are banning the import of Russian LNG to European markets. It is time to turn off the tap,” the EC President emphasized.
She recalled that earlier, the European Union, within the framework of the 18th package of sanctions, had already hit the Russian economy by lowering the maximum price for crude oil to $47.6.
Europe has also imposed sanctions on 118 more vessels of the Russian shadow fleet. Thus, 560 Russian tankers are already under restrictions.
In addition, deals for Rosneft and Gazpromneft will be banned, and other companies will also be frozen.
“We are now pursuing those who fuel Russia’s war by buying oil in violation of sanctions. We are targeting refineries, oil traders, petrochemical companies in third countries, including China. In three years, Russia’s oil revenues in Europe have decreased by 90%,” von der Leyen assured.
At the same time, the European Union imposed a ban on transactions for additional banks in Russia and for banks in third countries, thus strengthening the fight against sanctions circumvention.
The restrictive measures will affect crypto platforms for the first time and will prohibit transactions in cryptocurrencies.
“We are adding foreign banks connected to Russian alternative payment systems to the (sanctions — ed.) list. And we are restricting transactions with organizations in special economic zones,” the official added.
Among other things, the European Commission has imposed sanctions on the export of goods and technologies used on the battlefield. In particular, 45 companies in Russia and third countries have been hit by restrictions.
“These companies provide direct or indirect support to the Russian military-industrial complex. In an innovation-driven war, cutting off Russia’s access to key technologies is crucial. Above all, when it comes to drones,” von der Leyen explained.
Recall, on Friday, September 19, the European Commission officially approved a new, 19th package of sanctions against the Russian Federation.
As it became known, the European Union seeks to abandon the purchase of Russian liquefied natural gas earlier than planned within the framework of the 19th package of sanctions against the Russian Federation.
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