On Thursday, EU member states approved a new package of sanctions against Russia, targeting its profitable liquefied natural gas (LNG) sector for the first time, according to officials.
The sanctions, set to be formally adopted on Monday, aim to further weaken Russian President Vladimir Putin’s war efforts.
“This impactful package will further restrict Russia’s access to crucial technologies,” EU chief Ursula von der Leyen announced on X (formerly Twitter). “It will deprive Russia of additional energy revenues and address Putin’s shadow fleet and shadow banking network abroad.”
Diplomats reported that the latest sanctions, marking the 14th round imposed by the EU since the 2022 invasion, include a ban on the transshipment of Russian LNG via Europe. However, they do not prohibit EU countries from purchasing Russian LNG.
European ports are significant for Russia as they provide essential routes for LNG exports from frozen Arctic ports to Asian markets during winter. Key ports for Russian LNG deliveries from Siberia’s Yamal Peninsula include those in Belgium, France, the Netherlands, and Spain.
Notably, the Belgian port of Zeebrugge and the French port of Montoir are crucial hubs for re-exports to countries such as China, Taiwan, and Turkey.
The package also includes measures to hinder Russia’s use of a “shadow fleet” of vessels with concealed origins to circumvent EU sanctions on Russian crude oil.
Additionally, the EU will sanction Moscow’s SPFS bank messaging system, which Russia uses to mitigate the effects of being excluded from the global SWIFT financial transfer system.
The agreement on the new sanctions package faced delays due to Germany’s efforts to soften requirements on EU firms to prevent the re-export of sanctioned products to Russia via third countries.
The EU aims to restrict the flow of goods that can be used on the battlefield, such as microchips, through countries like Turkey and the United Arab Emirates.
Diplomats also noted that several more Chinese firms accused of aiding Russia’s military are being added to a blacklist, preventing EU firms from trading with them.
Furthermore, restrictions will be imposed on political parties, think tanks, and media providers accepting funds from Russia to curb alleged meddling by Moscow.
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