As part of the 19th package of sanctions against Russia, the European Union is preparing new restrictions aimed at banks, energy companies, payment systems, crypto exchanges and oil trade. The purpose of the measures is to increase pressure on Vladimir Putin and force him to stop the war against Ukraine. This was reported by Bloomberg agency on September 8.
The new package may include restrictions against the largest Russian oil companies, such as “Rosneft” and “Lukoil”, by canceling the current exemptions they enjoy. The EU is also considering strengthening control over the “shadow fleet” of Russia, which transports oil, restrictions on the activities of oil traders in third countries and a possible ban on reinsurance of tankers with Russian oil.
Separately, it is planned to ban the export of goods and chemicals that Russia uses for the military industry, as well as the introduction of sanctions against foreign companies, in particular Chinese ones, that supply these goods. The EU intends to coordinate some of the measures with the United States: already this week, the EU delegation will go to Washington for negotiations on the coordination of actions.
Despite large-scale sanctions from the US and the EU, Russia partially circumvents the restrictions — it receives sanctioned goods through China and other countries, and also sells oil and gas to India and a number of countries. To counter this, the EU is considering using an “anti-circumvention tool” against Kazakhstan, which may include a ban on the import of certain machines diverted to Russia for weapons production. However, the use of this mechanism requires convincing evidence and the unanimous support of member countries.
Among other possible measures discussed are visa restrictions, sanctions against ports that receive sanctioned vessels, and a ban on services, including artificial intelligence, that may have military applications. All proposals are currently under discussion with EU member states and may change in the coming days or weeks. A formal proposal for the package is expected to be presented shortly.
