The European Union has imposed a new set of sanctions on Russia, marking the 14th round of punitive measures. This package includes new targeted measures and strengthens existing sanctions to tighten restrictions on Russia. One specific measure involves banning the transshipment of liquefied natural gas (LNG) within the European Union to disrupt Russian gas exports from the Arctic. This measure is aimed at impacting Russia’s logistics of gas exports to the Asian market.
The ambassadors of the 27 EU member states approved this package, despite some initial reluctance from Germany and other countries. The European Commission proposed strengthening the obligation for European companies to monitor the goods they market to prevent them from indirectly ending up in Russia. These sanctions do not decrease the volumes of natural gas supplied to the EU, which is crucial for certain countries heavily reliant on Russian deliveries.
The system allowing financial transactions known as SPFS was also targeted by these sanctions, which was implemented after Russia was excluded from SWIFT international interbank financial system. The European Commission’s efforts to impose sanctions on Russia have been ongoing since 2022, with a focus on limiting Russia’s access to key technologies and resources.
