Today we proposed to Member States the 19th package of sanctions against Russia. In it, we target key sectors sustaining Russias war effort. 

Our sanctions bite. They have a visible impact on Russias public finances and economic growth. The European Union must reinforce these efforts collectively with its partners until peace is achieved. 

Any source of income for the Kremlin to continue its aggression is a target. Today we propose a full transaction ban on Russian banks and financial institutions, including those operating in third countries. We also propose adding large economic operators involved in the circumvention of sanctions, revenue generation and support for the Russian military industry, as well as the Russian credit card system and fast payments system. 

We are also proposing a ban on investments in Russian Special Economic Zones linked to the war. And we propose further measures on Chinese actors supporting Russias military industry. 

Russias primary source of income to finance its illegal war is still energy exports. So we propose:

  • a full prohibition of Russian LNG imports by January 2027
  • lifting remaining exemptions on Rosneft and Gazprom Neft
  • and expanding sanctions on Russias shadow fleet and its enablers, including 118 new vessels.

These new sanctions will also squeeze Russias access to technologies including AI and geospatial data, as well as critical resources that feed weapons production. This includes those received from foreign suppliers including China and India.

On top of waging war in Ukraine, Russian forces continue to tear Ukrainian children from their families and deport them to re-education camps. Today we propose sanctions on individuals involved in the abduction and indoctrination of Ukrainian children. 

We are also making it easier in the future to adopt sanctions on individuals and organisations involved in these abhorrent acts.

Europe wants peace for Ukraine. 

But despite weeks of diplomatic efforts, Russia only intensifies its aggression and is now breaching the European Unions own borders. Depriving Moscow of the means to wage war is essential to end this war and protect the security of our continent. 

Russias aggression cannot continue unchecked. Our message is clear: We will intensify pressure on Russia with increasingly hard-hitting sanctions, coupled with military support for Ukraine, until Russia accepts a genuine, just and lasting peace.