The bloc\u2019s 19th package targets third-country buyers of Russian oil, according to European Commission President Ursula von der Leyen<\/p>\n
European Commission President Ursula von der Leyen has proposed a\u00a0new package of sanctions on Russia over the Ukraine conflict, targeting \u201crefiners, oil traders, [and] petrochemical companies in third countries, including China,\u201d accused of helping Moscow bypass earlier restrictions.
\nMember states will now discuss the proposed package, which must be unanimously approved before being adopted.
\nThe new proposed measures,\u00a0revealed on Friday, extend beyond the bloc to target foreign energy firms, including in China, which are alleged to be \u201cpurchasing oil in breach of the sanctions,\u201d the commissioner claimed.
\nRussia has emerged as one of the largest suppliers of oil to both China and India since the escalation of the Ukraine conflict in 2022. The two countries have pushed back against Western demands to reduce their reliance on Russian crude, citing domestic economic needs and national interests. Russian President Vladimir Putin has warned Western nations against adopting a \u201ccolonial\u201d tone toward China and India and trying to \u201cpunish\u201d them.\u00a0
\nThe package also proposes to ban imports of Russian liquefied natural gas into EU markets, adds 118 vessels from what Brussels claims is a Russian \u201cshadow fleet\u201d to the blacklist, and places major Russian energy traders Rosneft and Gazpromneft under a full transaction embargo.
\nVon der Leyen said the measures also seek to close \u201cfinancial loopholes,\u201d extending transaction bans to more Russian banks as well as lenders in third countries. For the first time, EU sanctions will also cover cryptocurrency platforms, blocking digital transactions. She added that foreign banks tied to Russian \u201calternative payment systems,\u201d along with entities in special economic zones, will also face restrictions.<\/p>\n
Read more<\/p>\n
EU state calls out bloc\u2019s \u2018hypocrites\u2019 over Russian oil<\/p>\n
The EC is \u201cin parallel\u201d working on a new solution to finance Ukraine, \u201cbased on immobilized Russian assets,\u201d von der Leyen said.
\n\u201cWith the cash balances linked to these assets, we can provide Ukraine with a reparations loan,\u201d she stated, adding that \u201cThe assets themselves will not be touched, and the risk will be carried collectively.\u201d
\nVon der Leyen said the 19th package of measures against Moscow was drawn up in response to an escalation in the Ukraine conflict, citing missile strikes on Kiev and alleged Russian drone incursions into Poland and Romania. Moscow has dismissed the accusations as \u201cunfounded.\u201d
\n\u201cWe\u2019re increasing the pressure. With our 19th package of sanctions covering energy, financial services and trade restrictions,\u201d von der Leyen stated.<\/p>\n","protected":false},"excerpt":{"rendered":"
The bloc\u2019s 19th package targets third-country buyers of Russian oil, according to European Commission President Ursula von der Leyen European Commission President Ursula von der Leyen has proposed a\u00a0new package…<\/p>\n","protected":false},"author":1,"featured_media":18558,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4,6,3],"tags":[],"class_list":["post-18557","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-environment","category-politics"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t