The European Commission on Friday proposed a new sanctions package against Russia, broadening restrictions on its energy sector, banking system, and trade in goods and services as it seeks to intensify pressure on Moscow.
The 20th round of sanctions against Russia introduces a comprehensive ban on maritime services for Russian crude oil and adds 43 additional vessels to the list linked to the shadow fleet. It also prohibits the provision of maintenance and related services for LNG tankers and icebreakers, further constraining gas export projects by effectively barring their access to European ports.
In addition, the package imposes new import restrictions on metals, chemicals, and critical minerals, along with expanded export controls on goods and technologies supporting Russia’s military operations, including components used in explosive production.
The package additionally targets 20 more Russian regional banks and several banks in third countries believed to facilitate trade in sanctioned goods.
The EU’s latest measures against the Kremlin come as the United States continues to mediate negotiations between Russia and Ukraine aimed at ending the conflict.
“We will continue to use them until Russia engages in serious negotiations with Ukraine for a just and lasting peace,” European Commission President Ursula von der Leyen said while declaring the measure.
A core component of the proposal is a comprehensive ban on maritime services for Russian crude oil, to be implemented in coordination with G7 partners. If adopted, the measure would prohibit European firms from offering insurance, shipping, financing, and other essential services involved in transporting Russian oil.
Since oil and gas revenues account for roughly one‑third of Russia’s federal budget, energy exports remain a critical source of funding for its war against Ukraine.
The sanctions package will require approval from EU member states before taking effect, with the bloc seeking to finalize an agreement ahead of February 24, which marks four years of Russia’s war against Ukraine.
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