Russia faces intensified restrictions from the EU as new sanctions are imposed - Russia Faces Intensified Penalties from the EU: Imports of LNG Could Suffer Negative Impact
The European Union (EU) and the United States are intensifying their efforts to put pressure on Russia, following its war of aggression in Ukraine. Germany's Deputy Government Spokesman, Sebastian Hille, stated that the federal government's goal is to maintain and increase this pressure on Russia.
Hille mentioned that Berlin is in constant exchange with its partners, especially the USA, for this purpose. He expressed that it is Germany's goal to act together with the USA in this case, as the USA brings a decisive weight to the news.
In a telephone call with US President Donald Trump on Tuesday, Hille said the new sanctions include measures against cryptocurrencies, banks, and energy. The US President has agreed to implement tougher sanctions against Russia due to its actions in Ukraine.
The new EU sanctions against Russia primarily target Russian institutions and companies involved in the fossil fuel sector, aiming to reduce Russia’s war economy reliant on fossil fuel revenues. The package includes trade bans on goods and services critical to the Russian defense industry, restrictions on over 100 ships linked to Russia's "shadow fleet" that evade energy sanctions, and limits on Russian and allied banks' access to EU capital markets.
Additionally, the sanctions extend trade restrictions to entities in countries such as China and India that aid Russia. The sanctions also aim to curb cryptocurrency use linked to Russia. The EU urges swift approval by member states to increase pressure on Russia and bring it to peace negotiations.
No new information was provided about Kaja Kalla or any specific measures against cryptocurrencies, banks, or energy mentioned in the earlier paragraph. The EU Commission President, Ursula von der Leyen, was scheduled to speak later on Friday about the new sanctions package, but no new information was provided about her upcoming speech.
The European Union has set a new target date of January 1, 2027, for banning imports of Russian liquefied natural gas (LNG). However, no new information was provided about the EU's share of Russian natural gas imports or the increase in LNG imports. The increase in LNG imports has partially offset the strong decline in pipeline imports. LNG is transported by ship and then regasified at Europe's coasts and fed into the networks.
Previously, the complete halt of all Russian gas imports was planned for the end of 2027. However, Russia's share of EU natural gas imports was still 19% in 2024, partly due to increased LNG imports. The 27 EU member states had already banned most imports of Russian oil in 2022 following Russia's invasion of Ukraine. The US President has linked the implementation of these sanctions to the condition that all NATO allies stop buying Russian oil.
Trump proposed tariffs of "50 to 100 percent" on Chinese imports, which were to be lifted after the end of the Ukraine war. No new information was provided about these tariffs or their current status.
In summary, the EU and the US are strengthening their sanctions against Russia, targeting institutions and companies involved in the fossil fuel sector, defense industry, and financial sector. The EU aims to increase pressure on Russia to bring it to peace negotiations, setting a new target date for banning Russian LNG imports. The EU urges swift approval by member states to increase the effectiveness of these sanctions.
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