The European Union has agreed to implement the 19th sanctions package against the Russian Federation, finally lifting the last veto from Slovakia. The written approval procedure for the sanctions has begun in the EU Council, and the official adoption of the package will take place at 8:00 AM on October 23. These measures aim to weaken the financial and economic resources of Russia that are used to wage war against Ukraine.
This is reported by Kyiv24
Main Restrictions of the New Sanctions Package
The new package includes a wide range of energy, financial, and trade measures. Among the key innovations is a gradual ban on the import of liquefied natural gas (LNG) from Russia. For short-term contracts, the ban will take effect in six months, while for long-term contracts, it will start on January 1, 2027.
The EU has also expanded sanctions against the so-called “shadow fleet” of Russia: an additional 117 vessels are now banned from entering EU ports and from reinsurance. The total number of sanctioned vessels now stands at 558.
In the financial sector, the package includes a complete ban on transactions for five Russian banks. Additional restrictions are imposed on the payment systems “Mir” and SPFS, as well as sanctions against several banks in Belarus, Kazakhstan, Tajikistan, Kyrgyzstan, Paraguay, the UAE, and Hong Kong.
There is also a specific ban on providing cryptocurrency services to citizens and companies from Russia. Export bans on dual-use goods, industrial materials such as salt, rubber, and construction materials have been significantly expanded.
Additional Restrictions and Sanctions
A complete ban on providing tourism and technology services in Russia is also included, particularly in the fields of artificial intelligence, high-performance computing, and commercial space services.
A separate block of sanctions concerns restrictions on the movement of Russian diplomats within the EU through a new system of notifications and permits from member states.
The new package also contains provisions aimed at holding accountable those responsible for the abduction of Ukrainian children by Russian military forces, as well as sanctions against Russia’s military research and development sector.
“The new measures target the main sources of revenue for Russia through energy, financial, and trade restrictions and aim to weaken its ability to wage war against Ukraine.”
The introduction of sanctions comes ahead of the EU leaders’ meeting scheduled for October 23. Earlier, Austria lifted its blockage of the package, and Slovakia removed its veto, allowing for the agreement of the 19th sanctions package against Russia.