&imwidth=800&imheight=600&format=webp&quality=medium "EU proposes fresh sanctions for Russia, targets oil, gas and multiple services. Full list inside")
The European Commission (EU) proposed a fresh package of sanctions against Russia on Friday (Feb 5). The proposed plan broadens restrictions on Russian energy, banks, goods and services. “As important peace talks are underway in Abu Dhabi, we must be clear-eyed: Russia will only come to the table with genuine intent if it is pressured to do so. This is the only language Russia understands,” European Commission President Ursula von der Leyen said in a statement.
The package of Russia sanctions contains a full maritime services ban for Russian crude oil and targets 43 more vessels. It has put bans on the provision of maintenance and other services for LNG tankers and icebreakers to further dent gas export projects. Moreover, the package introduces new import bans on metals, chemicals and critical minerals. It has a list of 20 more Russian regional banks, as well as several banks in third countries that are perceived as facilitating trade in sanctioned goods.
Other than oil and gas, the proposed package also targets companies and platforms trading in cryptocurrency, which the Kremlin has employed to bypass sanctions and create alternative payment systems. The EU chief said that the sanctions were working and that's why the EU will continue them. “We will continue to use them until Russia engages in serious negotiations with Ukraine for a just and lasting peace,” she said.
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