The head of European diplomacy, Josep Borrell, announced the approval of the 19th sanctions package against the Russian Federation by the countries of the European Union. The new restrictions target the energy sector, financial institutions, and other areas that could reduce Moscow’s ability to finance its armed aggression against Ukraine.
This is reported by Kyiv24
EU Strengthens Sanctions and Implements New Financial Initiative
“We are adopting the 19th sanctions package – concerning energy, financial institutions, everything that can deprive Russia of the means to finance this war. This is an important signal of strength – Europe and America are acting together,” Borrell said.
According to Josep Borrell, in addition to strengthening sanctions, EU leaders are advancing an initiative to provide Ukraine with a loan based on frozen Russian assets. This approach aims not only to ensure additional assistance to Kyiv but also to demonstrate the steadfast support from European states and their allies.
Borrell emphasized that Russia must be held accountable for the damages inflicted on Ukraine and pay appropriate reparations. Frozen Russian assets can be used as collateral for the loan, allowing Ukraine to bolster its own defense. At the same time, this initiative sends three important signals: support for Ukraine, a demonstration of Europe’s resilience against Russia, and a reaffirmation of the EU’s leadership role for the United States.
Discussions on Risk Sharing and Joint Defense of Europe
The head of the EU External Action Service noted that negotiations are ongoing among member states regarding risk sharing and guarantees within the new financial scheme. At the same time, there is broad political support for this decision.
“Everyone agrees that no state should bear this burden alone. If a guarantee mechanism needs to be developed for Belgium or other countries – we will do it,” Borrell added.
In addition to financial assistance for Ukraine, during the European Council summit, leaders are discussing ways to deepen defense cooperation in Europe. According to Josep Borrell, issues of collective security and the development of defense projects remain a priority for the EU in light of security challenges in the region.
Today in Brussels, a meeting of EU heads of state and government is taking place, where, in addition to the situation in Ukraine, issues of European defense, recent events in the Middle East, competitiveness, housing, and migration are being discussed. In light of the ongoing attacks by Russia on the civilian population and infrastructure of Ukraine, European leaders are seeking to strengthen support for Kyiv and increase pressure on the aggressor to achieve peace.