The European Union is preparing its 19th sanctions package against Russia since 2022, targeting approximately six Russian banks and energy companies in coordination with the United States.
European Council President Antonio Costa confirmed Monday that the bloc is working closely with Washington and “like-minded partners” to increase pressure on Moscow following recent Russian attacks on Ukrainian energy infrastructure
Treasury Secretary Scott Bessent emphasized the coordinated approach during a Sunday NBC interview, stating the US and Europe are discussing new sanctions, hoping for a Russian economic “collapse” to bring Putin to peace negotiations.
A delegation of EU officials will travel to Washington this week to meet US counterparts and discuss joint action strategies.
The proposed sanctions package specifically targets Russia’s shadow oil tanker fleet and energy trading networks that have helped Moscow circumvent existing restrictions.
The EU is considering removing current carve-outs that major Russian oil companies like Rosneft currently enjoy, alongside potential bans on reinsuring listed tankers used in the shadow fleet operations.
Additional measures under consideration include export bans on goods and chemicals used by Russia’s military industry, with particular focus on foreign firms supplying these materials.
The package also explores restrictions on Russia’s payment and credit card systems, cryptocurrency exchanges, and further limitations on oil trade operations.
Beijing has emerged as a critical supplier enabling Russia’s military capabilities, particularly in drone production used against Ukrainian cities.
The EU is weighing trade restrictions on Chinese firms that supply military-related items to Russia, marking a significant escalation in targeting third-country enablers.
The bloc is also considering deploying its “anti-circumvention tool” for the first time against Kazakhstan, potentially banning specific machinery imports that EU trade data shows are being diverted to Russia for weapons production.
This tool requires extensive evidence and unanimous member state backing, reflecting the careful approach to targeting non-EU countries.
EU ambassadors received briefings on the proposed package over the weekend, with formal proposals expected in the coming days. The sanctions could evolve as discussions continue with member state capitals, requiring consensus for implementation.
The renewed sanctions push follows Russia’s Monday attacks on Ukrainian energy facilities across multiple regions, including Kyiv, and Sunday’s record air assault that killed three people, including a baby.
These coordinated restrictions aim to close remaining loopholes that have allowed Russia to source restricted items and maintain energy export revenues despite existing sanctions.