The package must now be approved by all 27 EU member countries in the coming weeks.
“We are now sanctioning 118 additional vessels from the shadow fleet. In total, more than 560 vessels are now listed under EU sanctions. Major energy trading companies Rosneft and Gazpromneft will now face a full transaction ban, and other companies will also undergo an asset freeze,” the Commission president stated.
“Our restrictive measures will, for the first time, affect crypto platforms and prohibit cryptocurrency transactions. We are listing foreign banks connected to Russian alternative payment service systems, and restricting transactions with entities in special economic zones,” she added.
European leaders have vowed to keep pressure on Russia to end its war on Ukraine amid increased diplomatic efforts to push the Kremlin toward negotiation.
However, officials privately admitted that the most effective measures would materialize only if the U.S. adopted tough economic restrictions and stronger enforcement. A high-level technical team was sent to Washington last week and discussions are ongoing.
U.S. President Donald Trump, however, stated he will agree to “major” sanctions on Russia if NATO countries fully exit from Russian oil—a challenging condition as countries like Turkey, Hungary, and Slovakia have refused to find alternative suppliers.
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