EU chief urges bloc members to sanction Russia’s LNG exports
BRUSSELS — The European Union is considering imposing new sanctions on Russia in response to its actions in Ukraine. European Commission President Ursula von der Leyen has called for sanctions on Russia’s liquefied natural gas exports, its aging oil tankers, and major energy companies.
Von der Leyen emphasized the importance of these sanctions in bringing Russia to the negotiation table and achieving peace in the region. The proposed sanctions would need to be approved by all 27 EU member states before taking effect.
The EU has already implemented 18 rounds of sanctions against Russia, targeting various entities, including banks, ministries, energy companies, and officials. These measures have included travel bans and asset freezes on individuals like President Vladimir Putin and his associates.
Energy revenue plays a significant role in Russia’s economy, allowing Putin to fund the military and maintain stability. The proposed sanctions aim to further restrict Russia’s access to energy markets and target companies supporting the Russian military complex.
Von der Leyen highlighted the impact of existing sanctions on Russia’s economy, citing high inflation and economic strain. The EU’s proposed measures would expand sanctions on Russia’s oil transport fleet and energy trading companies like Rosneft and Gazprom Neft.
Additionally, the EU plans to target companies and technologies that support Russia’s military efforts. These comprehensive sanctions aim to pressure Russia to de-escalate the conflict in Ukraine and engage in diplomatic negotiations.
