Brussels: The European Commission has proposed its most extensive sanctions package yet against Russia, targeting the country’s seaborne crude oil exports and key industrial sectors to reduce Moscow’s financial capacity for its war in Ukraine. The draft measures, announced on Friday, mark the 20th EU sanctions initiative since the full-scale invasion began nearly four years ago and aim to pressure Russia into meaningful peace negotiations.
At the core of the proposal is a comprehensive ban on services that support Russian oil shipments, including shipping, insurance, and port assistance. This move effectively supersedes the G7 price cap regime, under which Russian crude could previously be purchased below a set price. European Commission President Ursula von der Leyen emphasized that the ban would be coordinated with like-minded partners and could expand to include liquefied natural gas (LNG) carriers, icebreakers, and other energy-related exports in the future. The measure directly affects Russian oil exported via Western tankers from countries such as Greece, Cyprus, and Malta, which supply markets in India and China.
Beyond energy, the sanctions package proposes restrictions on imports of metals, chemicals, and critical minerals, tighter controls on European exports to Russia, and measures against cryptocurrency firms that facilitate sanctions evasion. The EU also plans to blacklist an additional 43 vessels in Russia’s shadow fleet, bringing the total to 640, and impose sanctions on 20 more Russian regional banks. Overall, the package would target more than 100 new individuals and entities, including travel bans, asset freezes, and transaction restrictions.
The EU hopes these measures will increase pressure on Moscow and encourage serious peace talks. Von der Leyen stated, “Russia will only come to the table with genuine intent if it is pressured to do so. This is the only language Russia understands.” The new sanctions also include an Anti-Circumvention Tool allowing the EU to block the sale of sanctioned goods to third countries suspected of helping Russia bypass restrictions, with Kyrgyzstan cited as a potential target due to previous facilitation of evasion.
This ambitious package underscores the EU’s ongoing commitment to sustain pressure on Russia’s economy, weaken its war-funding capacity, and maintain international solidarity with Ukraine. EU member states will need unanimous approval to formally adopt the measures, a process expected to unfold in the coming weeks.