On June 9, European Commission President Ursula von der Leyen officially confirmed that the new EU sanctions package against Russia will be a powerful blow to the enemy's energy sector, financial services and cryptocurrencies, trade, and fisheries.
Points of attention
- There will be new export restrictions on goods and technologies used by the Russian military industry, in addition to significant limitations on the import of certain fish products.
- The EU also plans to expand the list of vessels in the 'shadow fleet' subject to restrictions, increasing the pressure on Russian entities.
The new package of sanctions against Russia — what does it entail?
According to von der Leyen, the key goal of energy sanctions is to ensure that Russia's profits from oil sales are contained.
Yes, the focus is on freezing the price ceiling for Russian "black gold."
Our oil price ceiling has a built-in adjustment mechanism to accommodate the market. It was not designed for market shocks like the one caused by the closure of the Strait of Hormuz, so we propose to simply suspend the adjustment until January of next year.
Ursula von der Leyen
President of the European Commission
Pressure on the Russian "shadow fleet" will also increase.
The EU intends to add 30 more vessels to the general list, to the 632 already subject to restrictions.
The 21st package of sanctions also contains a number of financial and crypto restrictions: bans on transactions with another 31 Russian banks, as well as 20 banks, crypto firms or platforms, and oil traders in third countries that served sanctioned Russian entities and individuals or circumvented measures.
Regarding trade, official Brussels has planned new export restrictions on goods and technologies used by the Russian military industry.
In the area of fisheries, European authorities are proposing significant restrictions on the import of some fish products and a complete ban on others, in particular cod.
