EU launches 20th package of sanctions on Russia

War in Ukraine

EU launches 20th package of sanctions on Russia

Hitting Russia where it hurts: That is the aim of the EU sanctions. A new package is being presented on the anniversary of the war of aggression against Ukraine.

Russia faces major new EU sanctions on the fourth anniversary of its large-scale invasion of Ukraine. A package presented by the European Commission in Brussels envisages tough measures to further reduce Russia’s revenue from the sale of gas and oil. In addition, further financial institutions are to be cut off from international payment transactions and additional trade restrictions are to be imposed.

“While important peace talks are underway in Abu Dhabi, we must see clearly: Russia will only come to the negotiating table with serious will if it is put under pressure to do so,” said EU Commission President Ursula von der Leyen, commenting on the submission of the sanctions package. It still needs to be discussed and decided by the member states. Ideally, it can come into force on the anniversary on February 24th.

According to the EU, the following measures, among others, may then apply:

The new sanctions package will be the 20th due to Russia’s war of aggression against Ukraine. The 19th came into force in October and was also heavily aimed at reducing Russia’s revenue from the sale of gas and oil. To this end, a complete ban on imports of liquefied natural gas (LNG) from Russia was agreed as early as 2027, a year earlier than originally planned.

EU foreign policy chief Kaja Kallas said of the new package: “Russia continues to respond to diplomacy with missiles. We are determined to make this choice painfully expensive.” Wars end when one side runs out of money. Interrupting the flow of money to Moscow is essential to stop the fight.