Europe hits the Kremlin’s financial flows: what is included in the 19th package of sanctions
23 October 00:45
The European Union has agreed on the 19th sanctions package against Russia, aimed at increasing economic pressure for continuing the war against Ukraine. This was reported by Radio Liberty’s Brussels correspondent Rickard Jozwiak on the social network X, "Komersant Ukrainian" reports
The decision was blocked for several weeks by Austria, Hungary and Slovakia, but in the end, the sanctions package received the necessary support from all member states.
Now, the Council of the European Union has started the written procedure to approve the sanctions. the 19th package is to be officially adopted at 8:00 a.m. on October 23, according to the Danish mission to the EU, which holds the presidency of the Council of the European Union, Radio Liberty reports.
The new package of sanctions targets Russia’s main sources of income. It introduces energy, financial and trade restrictions that should weaken Russia’s ability to wage war against Ukraine.
Key decisions of the 19th EU sanctions package against Russia
The package includes new energy restrictions, a ban on Russian gas imports, and sanctions against banks, crypto exchanges, and companies that help Russia circumvent previous restrictions.
Energy sanctions
A complete ban on imports of liquefied natural gas (LNG) from Russia starting in January 2027.
This is a year earlier than previously planned, which means accelerating the EU’s energy independence from Russian energy.
Financial sector
Sanctions against Russian banks and financial institutions in Central Asian countries that facilitate the circumvention of sanctions.
Financial restrictions include a complete ban on transactions for five Russian banks, restrictions on the Mir and SPFS payment systems, as well as sanctions against a number of banks in Belarus, Kazakhstan, Tajikistan, Kyrgyzstan, Paraguay, the UAE and Hong Kong.
Restrictions on crypto exchanges used to finance the Russian Federation.
Prohibition on the provision of tourism and technology services in Russia, including artificial intelligence, high-performance computing and commercial space services.
Read us on Telegram: important topics – without censorship
International control
Trade restrictions against Chinese and Indian companies that supply military technology and equipment to Russia.
Export ban
A ban on the export of goods to Russia worth more than 40 billion euros. The list includes
- minerals
- ceramics
- rubber and technical equipment.
The EU is also introducing a new mechanism to restrict the movement of Russian diplomats within the EU through a system of notifications and authorizations from member states.
Another set of sanctions concerns the abduction of Ukrainian children by Russian forces and the military research and development sector of Russia.
A meeting of EU leaders is scheduled for October 23.
Shadow oil fleet
Sanctions against the “shadow fleet”. 117 new vessels will be banned from entering EU ports and reinsurance, bringing the total number of vessels under sanctions to 558.
Why the package was delayed
Austria demanded the unfreezing of the assets of Russian oligarch Oleg Deripaska in an attempt to compensate for the losses of Raiffeisen Bank International in Russia.
After the demand was not supported, Austria lifted the blockade.
Hungary and Slovakia expressed concerns about the impact of sanctions on their own energy security.
The package was agreed upon after negotiations in Brussels.
Watch us on YouTube: important topics – without censorship
