EU proposes 21st sanctions package against Russia

Brussels (ANTARA) - The European Commission has proposed its 21st sanctions package against Russia, targeting key sectors including energy, financial services and crypto, trade, and, for the first time, fisheries, European Commission President Ursula von der Leyen said on Tuesday (9/6). According to a statement released by the European Commission, the proposed measures include suspending the automatic adjustment mechanism for the oil price cap until January next year, which would allow the oil market to stabilise while maintaining pressure on Russian revenues. An additional 30 vessels will be added to the sanctions list, on top of the 632 ships already designated. For the first time, sanctions will also target vessels providing support services for the ‘shadow fleet’, including bunkering operations. Furthermore, the proposal includes restrictions on ports, airports and refineries involved in the trade or processing of Russian oil. Sales of liquefied natural gas (LNG) tankers to Russia will also be restricted. Regarding financial and crypto measures, the European Commission will extend the transaction ban to 31 additional Russian banks, as well as to 20 banks, crypto firms, platforms and oil traders in third countries. In the trade sector, the proposed package introduces new export restrictions on goods and technology used by Russia’s military-industrial sector, as well as drone-related equipment. The European Commission also proposed an import ban on a number of goods worth approximately 60 million euros (1 euro = Rp21,511), including certain types of metals and automotive spare parts, as part of efforts to reduce dependency on imports from Russia. For the first time, the European Union (EU) will also target the Russian fisheries sector, proposing substantial restrictions on imports of certain fish products and a total ban on others, including cod. Von der Leyen also announced a new measure in the package, namely a ban on entry to the EU for individuals who have served in the Russian armed forces since the start of the Ukraine conflict. The proposal still requires approval from all EU member states before it can be formally enacted.