On Friday, the European Union rolled out its newest set of sanctions, specifically targeting Russia’s economy to cripple its ability to finance the ongoing conflict in Ukraine. These measures aim to significantly restrict Moscow’s energy trade and impose penalties on key financial service companies.
This latest package, marking the bloc’s nineteenth, is a concerted effort by European leaders to intensify pressure on Russian President Vladimir V. Putin. It also serves as a pointed message to the White House, following recent calls from President Trump for European nations to cease all oil purchases from Russia.
During her announcement on Friday, Ursula von der Leyen, President of the European Commission, declared, “It is time to turn off the tap.” She emphasized that “Our sanctions are an effective tool of economic pressure, and we will keep using them until Russia comes to the negotiating table.”
Key elements of the new sanctions include accelerating the phase-out of Russian liquefied natural gas (LNG) purchases, now set for the start of 2027—a full year ahead of schedule. Additionally, the measures are designed to compel companies in China and other countries to halt their business dealings with Russia. Notably, this package introduces restrictions on cryptocurrency platforms facilitating transactions with Russia for the very first time.
Further strengthening the crackdown, the sanctions will expand the European Union’s blacklist to include more ships. This expansion means the bloc will now target 560 vessels belonging to Russia’s ‘shadow fleet’ – a collection of often poorly maintained ships with obscure ownership, which have been instrumental in helping Russia circumvent Western restrictions and maintain its lucrative oil trade.
Before becoming official, this comprehensive sanctions package requires endorsement from political leaders across the 27 member states, a process that could conclude as early as next month. Given the extensive negotiations leading up to this announcement, it is highly probable that a version of these proposed measures will ultimately be enacted.
This announcement coincides with former President Trump’s frequent discussions on sanctions, where he has consistently asserted that the United States would be ready to impose severe penalties on Russia—but only if European nations first halt their oil imports from Russia.
Last weekend, Mr. Trump declared on Truth Social, “I am ready to do major Sanctions on Russia when all NATO Nations have agreed, and started, to do the same thing, and when all NATO Nations STOP BUYING OIL FROM RUSSIA.”
Despite the European Union’s ongoing efforts to reduce its reliance on Russian oil, countries like Hungary and Slovakia continue to depend significantly on Russian energy supplies. These nations have faced considerable pressure from their fellow European members to decrease their energy imports from Russia.
Prior to the war in Ukraine, EU member states sourced over 40 percent of their pipeline natural gas and nearly 30 percent of their oil from Russia. However, these figures have drastically dropped, with gas imports now at approximately 10 percent and oil imports, as of early this year, at merely 2 percent.
Some European observers interpret Mr. Trump’s recent statements as a potential lever to increase pressure on Hungarian Prime Minister Viktor Orban, who shares ideological common ground with Mr. Trump’s ‘Make America Great Again’ agenda.
Conversely, other analysts view this as a tactic by the former president to establish an exceptionally high bar for the U.S. to join future sanctions against Russia, enabling America to delay action while shifting responsibility for the delay onto European partners.
Jacob Funk Kirkegaard, a senior fellow at the economic think tank Bruegel, dismissed Mr. Trump’s stance, stating, “I certainly think it’s a distraction.” He added, “The reality is there is a clear acceptance of the fact that Trump is not going to expend U.S. political and economic resources on getting tough on Putin.”