In a significant move, European Union leaders on Thursday greenlit a comprehensive new set of sanctions against Russia. These measures are designed to halt Russian liquefied natural gas imports, tighten controls on the country’s banking system and cryptocurrency operations, and impose travel restrictions on Russian diplomats.
This latest package, initially proposed back in September, arrives at a critical juncture as the United States simultaneously ramps up its own pressure on Russia. President Trump had just hours earlier announced substantial new sanctions on Russia’s two largest oil companies, Rosneft and Lukoil, marking the first such actions of his second term.
Ursula von der Leyen, president of the European Commission, lauded the coordinated effort, stating, “This is a clear signal from both sides of the Atlantic that we will keep up collective pressure on the aggressor.”
Ukrainian President Volodymyr Zelensky, attending a European Union summit in Brussels, expressed his approval, calling the American and European sanctions “very important” and hoping for their effectiveness.
The path to agreement wasn’t entirely smooth; Robert Fico, Slovakia’s prime minister, initially delayed the European sanctions over concerns related to unrelated car regulations and energy costs. However, these issues were reportedly resolved by Wednesday, clearing the way for the unanimous approval.
“It is extremely positive that we have reached an agreement,” remarked Lars Lokke Rasmussen, Denmark’s foreign minister, emphasizing the real impact these sanctions are expected to have on the Russian economy.
A standout feature of this new package is the plan to phase out Russia’s liquefied natural gas (LNG), a crucial step towards fully cutting off Russian fuel supplies to the 27-nation bloc. This ban will be implemented in phases, with short-term contracts expiring in six months and long-term agreements concluding by early 2027 – a year ahead of previous European Union proposals.
Beyond energy, the sanctions also address Russia’s attempts to bypass existing restrictions. This includes new rules for cryptocurrency transactions, which have frequently been exploited as a less traceable alternative to traditional financial systems.
Furthermore, the European Union is intensifying its efforts against Russia’s notorious “shadow fleet”—a collection of often dilapidated vessels used to transport Russian oil globally, flouting established price caps. These ships are known for employing evasive tactics, operating with dubious registrations, and often lacking proper insurance. The bloc is adding over 100 more vessels to its sanctioned list, bringing the total to 558.
The overarching goal of these numerous European sanctions remains consistent: to cripple the Russian economy and impede the Kremlin’s ability to fund its ongoing war in Ukraine. While Russia has found ways to adapt, such as redirecting oil and gas sales to countries like China, these workarounds invariably incur significant time and financial costs for Moscow.