EU considers new sanctions on Russian banks, oil trade, Bloomberg reports
The European Union is preparing a 19th package of sanctions targeting Russian banks and the energy sector, Bloomberg reported Sept. 8, citing its undisclosed sources.
The news comes as Ukraine's allies ramp up diplomatic pressure on the Kremlin to end the war through further sanctions.
The EU has dispatched a delegation to Washington to discuss potential new restrictions with the administration of U.S. President Donald Trump, who, despite repeated threats, has yet to impose additional sanctions on Russia.
The upcoming sanctions package, expected to be unveiled in September, is set to include restrictions on Russia's shadow fleet and a ban on reinsurance for Russian tankers. It will also target Russian oil traders operating in third countries and impose limitations on major oil companies such as Rosneft and Lukoil.
Additional measures under consideration include a ban on exports of goods and chemicals used in Russia's military industry, trade restrictions on foreign suppliers, including Chinese companies, and visa restrictions on ports handling sanctioned shadow vessels.
The package may also impose sanctions related to artificial intelligence with military applications.
For the first time, the EU is reportedly considering sanctions against Kazakhstan to block the supply of certain materials used in Russian weapons production, according to Bloomberg.
While Brussels announced work on its 19th sanctions package on Aug. 19, Politico reported that the EU is running out of tools.
The EU banned most Russian oil imports at the onset of the full-scale invasion and aims to phase out all energy purchases by the end of 2027.
"The sooner we have that import ban in place, the better our energy security, independence, and price stability," Anna-Kaisa Itkonen, the European Commission spokesperson for climate, energy, transport, and taxation, told the Kyiv Indepdendent.
"Russia has for years been an unreliable energy supplier for the EU," the spokesperson said. "If we want to become energy independent in the EU, this is a necessary step we have to take, all together, as a Union."
