"The threats to our Union are also increasing. In the last two weeks, Russian Shahed drones have violated the airspace of our Union, both in Poland and in Romania. These are not the actions of someone seeking peace. Time and time again, President Putin has escalated the conflict." The President of the European Commission, Ursula von der Leyen, began her speech this Thursday by announcing a new package of sanctions on Russia. The 19th.
Von der Leyen made it clear that Vladimir Putin does not intend to stop. In addition to being a growing threat to the EU, he has also "fully demonstrated his contempt for diplomacy and international law". "He has launched some of the largest-scale drone and missile attacks on Ukraine since the start of the war, hitting both government buildings and civilian homes, even reaching our EU office in Kyiv," she added.
And that is why the Commission President proposes to further suffocate the struggling Russian finances. "Our economic analysis is clear: our sanctions are severely affecting the Russian economy. The interest rate is at 17%. Inflation remains persistently high. Russia's access to financing and income is steadily decreasing. And the overheated Russian war economy is reaching its limits," she explained.
Among the measures proposed by the Commission, which will need to be approved by the countries, is the ban on importing liquefied natural gas (LNG) to Europe. "It's time to turn off the tap. We are prepared for it," she assured. "Furthermore, we have just lowered the cap on crude oil prices to $47.6. To strengthen enforcement, we are now sanctioning an additional 118 ships from the shadow fleet. In total, over 560 ships are included in the EU sanctions list," she continued.
"The major energy trading companies, Rosneft and Gazpromneft, will now be under a total transaction ban. And other companies will also be subject to asset freezes. We are now targeting those who fuel Russia's war by buying oil in violation of sanctions. We are aiming at refineries, oil traders, petrochemical companies in third countries, including China," explained the German official.
Brussels also emphasizes attacking the "financial loopholes that Russia uses to evade sanctions". "We are imposing a transaction ban on additional banks in Russia and banks in third countries," she explained. The 19th sanctions package includes, "for the first time, restrictive measures that will target cryptocurrency platforms and prohibit transactions in crypto assets," Von der Leyen continued.
And the third point of action, after the energy and financial sectors, is the restrictions "on direct exports for items and technologies used on the battlefield". "We are also including 45 companies in Russia and third countries. These companies have been providing direct or indirect support to the Russian military-industrial complex. In an innovation-driven war, cutting off Russia's access to key technologies is crucial, especially regarding drones," the Commission believes.
"I now call on the Member States to quickly support these new sanctions," Von der Leyen requested, closing her speech with a request as common as, at least for the moment, unlikely: "We want Russia to leave the battlefield and come to the negotiation table. This is the way to give peace a real chance."