In a significant development on Thursday, European Union officials officially endorsed a comprehensive new set of sanctions against Russia. This package specifically targets Russian liquefied natural gas (LNG) imports, imposes restrictions on Russian banks and cryptocurrency platforms, and includes travel bans for Russian diplomats.
First proposed back in September, these new measures receive final approval as the United States simultaneously intensifies its own pressure on Russia.
Notably, this European action comes just hours after President Trump’s announcement of substantial new sanctions, his first in his second term, which are specifically aimed at Russia’s two largest oil giants, Rosneft and Lukoil.
“This sends an unequivocal message from both sides of the Atlantic: we are united in maintaining collective pressure on the aggressor,” stated Ursula von der Leyen, President of the European Commission, via social media.
Previously, the package faced delays due to objections from Slovakian Prime Minister Robert Fico, who raised concerns regarding unrelated car regulations and energy expenses. However, reports indicated on Wednesday that a resolution had been reached, securing his support.
“Achieving this agreement is incredibly positive,” remarked Lars Lokke Rasmussen, Denmark’s Foreign Minister, in a Thursday statement. “These sanctions are demonstrably effective and are having a significant detrimental impact on the Russian economy.”
The decision to gradually eliminate Russian liquefied natural gas (LNG) is a particularly significant stride, designed to eventually halt all Russian fuel imports into the 27-member bloc. This ban will be implemented in phases: short-term contracts will conclude within six months, while longer-term agreements will phase out starting in 2027.
Remarkably, this complete prohibition will take effect in 2027, one year ahead of prior proposals from the European Union.
The new sanctions also specifically address Russia’s tactics to bypass existing E.U. restrictions. This includes extending controls to cryptocurrency transactions, a common workaround due to their inherent difficulty in tracing compared to conventional financial methods.
Furthermore, the European Union is intensifying its efforts against Russia’s “shadow fleet” – a network of often aging, uninsurable vessels with obscure registrations that Moscow employs to secretly transport its oil globally, circumventing price caps.
According to the Danish presidency, the bloc plans to add over 100 more vessels to its list of sanctioned ships, increasing the total to 558.
The overarching aim of Europe’s various sanctions has consistently been to cripple the Russian economy, thereby impeding the Kremlin’s ability to continue its military aggression in Ukraine. Although Russia has found ways to bypass some restrictions, such as selling oil and gas to China, these elaborate workarounds have incurred significant financial and logistical costs for Moscow.