Europe Asia News

This marks the 19th package of sanctions since Moscow’s full-scale invasion of Ukraine. Under it, the 27 EU member states will phase out purchases of Russian liquefied natural gas (LNG) by January 2027.

The package also targets Russia’s financial sector, Chinese and Indian companies accused of evading sanctions, and 117 oil tankers from Russia’s “shadow fleet” used by the Kremlin to bypass the Western oil price cap.

The new sanctions package will be implemented in two stages and includes a total ban on the import of Russian LNG. Short-term supply contracts will be terminated within six months, and all long-term agreements will end on January 1, 2027.

This timeline accelerates the EU’s efforts to reduce dependence on Russian fossil fuels by at least a year compared to previous proposals.

The package also expands existing restrictions by adding 117 vessels – mostly oil tankers – from Moscow’s shadow fleet, bringing the total number of sanctioned ships to 558. Additional measures target Russian diplomats, introducing new travel bans and asset freezes.

In addition to sanctions, European leaders approved a plan to use frozen Russian assets to fund a €140 billion “compensation loan” for Ukraine.

Under the plan, interest income from frozen funds will be directed toward supporting Kyiv’s recovery and defense.