European Commission President Ursula von der Leyen announced on Friday the Commission's proposals for a 19th package of sanctions on Russia, primarily targeting the country's energy and financial sectors.
The European Union (EU) plans to ban imports of Russian liquefied natural gas into the bloc's market and impose sanctions on 118 additional vessels from Russia's shadow fleet, according to the statement by the EU president.
The EU has lowered the price cap on Russian crude oil to 47.6 U.S. dollars per barrel, the statement said, adding that major Russian energy trading companies Rosneft and Gazpromneft will face a full transaction ban.
The EU will also expand the ban on transactions involving banks in Russia and other countries, and for the first time include cryptocurrency platforms in the sanctions.
In addition, the bloc will list 45 companies in Russia and third countries under new export restrictions for military items and technologies.
The European Commission president reaffirmed that the EU is working on a new solution to finance Ukraine's defense efforts based on the immobilized Russian assets.
Under EU procedures, the new round of sanctions must be approved unanimously by all 27 member states before taking effect.
On Thursday, Russian Foreign Ministry spokesperson Maria Zakharova described the EU plan to phase out Russian fossil fuel imports as a form of suicidal self-harm.
She said that for years, the EU has doggedly pursued a policy of curtailing Russian energy imports – a policy that is profoundly damaging to the economies of EU member states.
Zakharova warned that further progress along this suicidal path will lead to even graver consequences.
The EU's misguided policy is proving to be no less a punishment for EU member states than any of Russia's retaliatory measures could be, she added.
EU Commission proposes 19th sanctions package on Russia
EU Commission proposes 19th sanctions package on Russia
