EU Proposes Sweeping 19th Sanctions Package Against Russia

The European Commission has suggested its 19th sanctions package targeting Russia due to the ongoing conflict in Ukraine. Key measures include a ban on Russian liquefied natural gas, increased financial restrictions, export bans, and targeting individuals involved in abducting Ukrainian children. EU member states must now discuss for unanimous adoption.

The European Commission unveiled its 19th sanctions package aimed at Russia over Ukraine's invasion in 2022. The proposed measures will undergo discussions among member states before seeking unanimous approval.

Key energy restrictions include a ban on Russian liquefied natural gas imports from January 1, 2027, a year earlier than initially planned. Additionally, the EU has targeted Moscow's shadow fleet, aiming to list over 560 vessels, while prohibiting re-insurance for certain Russian ships and aircraft.

Further financial measures impose full transaction bans on Russian banks, cryptocurrencies, and restrict Russia's credit card and fast payment systems. Export bans span chemicals and high-tech services, with special sanctions on individuals connected to the abduction of Ukrainian children.

(With inputs from agencies.)