The new measures introduce import bans on metals, chemicals, and critical minerals, along with additional export restrictions on items and technologies used in Russia’s battlefield efforts, such as materials for explosives production.
The package includes 20 additional Russian regional banks and several banks in third countries seen as facilitating trade in sanctioned goods.
Von der Leyen noted a 24 percent drop in Russian oil and gas revenues last year, reaching the lowest point since 2020, as evidence that sanctions are effective. “We will continue to apply these measures until Russia engages in meaningful negotiations with Ukraine for a fair and lasting peace,” she stated.
The package requires approval from EU countries to take effect, aiming to finalize the deal by the fourth anniversary of Vladimir Putin’s aggressive war against Ukraine on February 24.
The proposal follows a series of trilateral talks between Ukrainian, American, and Russian negotiators in Abu Dhabi this week, resulting in an agreement between Ukraine and Russia to swap 314 prisoners of war.
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