The European Commission proposed on Friday its 19th package of sanctions against Russia over its full-scale invasion of Ukraine in 2022. Member states will now have to discuss the package before adopting it unanimously.
Here are the details:
The European Union has put a ban on Russian liquefied natural gas that will take effect on January 1, 2027. This brings forward the proposed ban from January 1, 2028, which was communicated to member states through other legal texts.
In a previous package of sanctions, the EU had already banned trans-shipments of Russian LNG.
Additionally, the new sanctions will list 118 new vessels in Moscow's so-called shadow fleet, increasing the total number of listed vessels to over 560.
The sanctions also include a ban on re-insuring listed vessels and a reinsurance ban for used Russian aircraft.
The EU will end exemptions for Russian oil companies Rosneft and Gazpromneft and will also list oil traders, refineries, and petrochemical companies in third countries—including China—that have breached sanctions.
A full transaction ban will be placed on more Russian banks and their operations in third countries. There is also a full transaction ban on cryptocurrency platforms as well as restrictions on crypto-services for Russian nationals.
The EU is also restricting the Russian credit card system (MIR) and fast payments system (SBP). In terms of export bans, there are tighter export controls on an additional 45 Russian and third-country entities, including in China and India.
The EU will also ban chemicals, metal components, salts, and ores useful to Russia's military.
Bans will also be imposed on investment in certain special economic zones in Russia relevant for the war effort, with the option to extend the list to include ports outside Russia used for weapons transfers or the “shadow fleet”.
A ban on high-tech services including geospatial information, AI, and high-performance computing will also be in effect, as will restrictions related to tourism in Russia.
Finally, sanctions will also be placed on individuals involved in the abduction and indoctrination of Ukrainian children.
(Reporting by Lili Bayer and Julia Payne Editing by Frances Kerry)