New EU sanctions against Russia will target oil revenues, banks, and the shadow fleet, according to Politico
The European Union plans to approve the 21st package of sanctions against Russia by the end of next week. The new restrictions are intended to increase economic pressure on the Kremlin and target key sources of funding for Russia’s war.
According to European diplomats and officials, the new sanctions package will primarily target Russia’s oil revenues, the banking sector, and the so-called shadow fleet, which is used to circumvent international restrictions.
The European Commission is expected to present the relevant proposals as early as next week.
Officials in Brussels emphasize that the priority remains increasing pressure on Moscow, rather than seeking compromise solutions.
“The idea is that after the summer, Ukraine may find itself in a stronger position. Appointing a special envoy at this stage could undermine efforts to pressure Russia just as Ukraine begins to turn the tide of the war in its favor,” noted one European official.
One of the main initiatives will be to maintain the current price cap on Russian oil. The current mechanism expires this summer, and without further action, the price cap will automatically rise.
EU countries are seeking to maintain the current level of restrictions to prevent an increase in Russia’s oil revenues amid a potential rise in global energy prices.
At the same time, diplomats acknowledge that a complete ban on Russian oil imports or maritime transport is currently unlikely.
The new package may also include sanctions against Russia’s largest energy companies, Lukoil and Rosneft.
A separate set of restrictions will target shadow fleet vessels and companies that help circumvent the sanctions regime.
Ukraine’s Ambassador to the EU, Vsevolod Chentsov, stated that the sanctions list must be significantly expanded.
“We expect that restrictive measures will be extended to additional vessels of the shadow fleet and its broader ecosystem,” the diplomat emphasized.
In addition, Patriarch Kirill, who is considered one of Vladimir Putin’s closest allies, is mentioned among possible new additions to the sanctions list. Previously, Hungary blocked the imposition of sanctions against the head of the Russian Orthodox Church.
Ukraine is also calling on the European Union to consider sanctions against Rosatom, which Kyiv views as a key component of Russia’s military-industrial complex.
The new sanctions package could be one of the most extensive in recent times and intensify economic pressure on Russia in the energy, financial, and logistics sectors.
The European Union is considering adding about 20 additional tankers from Russia’s shadow fleet to the upcoming 21st package of restrictive measures to reduce Moscow’s oil revenues. The new sanctions are also planned to be extended to vessels transporting liquefied natural gas to prevent the Kremlin from creating a similar shadow fleet for LNG.
Ukraine has introduced a new package of sanctions against Russian commanders who directed missile strikes on Ukrainian cities, as well as against vessels providing military logistics for Russia.
Ukraine has rejected the idea of “associated” EU membership without voting rights, which had been discussed in European political circles. Volodymyr Zelenskyy stated that such a format is unfair and does not correspond to Ukraine’s role in European security.
The European Union has moved to the practical stage of preparing Montenegro’s accession treaty. The country continues on its path toward EU integration and has declared its intention to become a member by 2028.
Ukraine hopes that the European Union will open all six negotiation chapters on the country’s accession this year and anticipates the possibility of closing at least one of them by the end of the year.
Ukraine may temporarily forgo some of the benefits of EU membership to accelerate the accession process. Taras Kachka noted that such a step would help the country integrate into the EU more quickly.
