The European Union (EU) has introduced its 20th sanctions package against Russia.
Modern.az reports that European Commission President Ursula von der Leyen issued a statement on this matter.
The EU's 20th sanctions package covers the energy, financial services, and trade sectors. In the energy sector, it envisages the implementation of a full maritime services ban for Russian crude oil, the addition of 43 more vessels to the “shadow fleet”, and the restriction of technical maintenance for tankers supplying liquefied natural gas (LNG) and icebreakers.
In the financial sector, the blacklisting of 20 regional banks and the expansion of measures against evasion channels via cryptocurrency are planned. Additionally, export prohibitions exceeding 360 million euros in value to Russia, and import restrictions on metals, chemicals, and critical minerals totaling over 570 million euros are being implemented.
The package also includes the activation of a counter-measure tool against sanctions evasion for the first time.
The Commission's report stated that the impact of sanctions is already being felt, with Russia's oil and gas revenues projected to decrease by 24 percent in 2025, reaching their lowest level in the last five years, interest rates remaining at 16 percent, and inflation remaining high.
U. von der Leyen called on member states to swiftly approve the new sanctions, emphasizing that this step could send a strong signal in the fourth year of the war.
