The European Commission has proposed a new round of sanctions against Russia in a fresh attempt to intensify pressure on Moscow's high-intensity war economy and force concessions at the negotiating table, APA reports, citing Euronews.
"While Ukraine continues to defend itself with extraordinary courage on the battlefield, the Kremlin is doubling down on war crimes, deliberately striking homes and civilian infrastructure," Commission President Ursula von der Leyen said on Friday afternoon.
"Russia will only come to the table with genuine intent if it is pressured to do so. This is the only language Russia understands. That is why we are stepping up today."
The main element inside the package is a full ban on maritime services aimed at further weakening Russia's energy revenues, which von der Leyen says should be implemented "in coordination with like-minded partners after a decision" at the G7 level.
The plan, previously advocated by Finland and Sweden, would prohibit EU companies from providing any type of service, such as insurance, shipping or port access, to vessels carrying Russian crude oil.
Until now, the EU has allowed such services to be offered – but only to tankers that comply with the G7 price cap, which has been in place since December 2022.
The cap was recently adjusted to $44.10 per barrel in an attempt to reflect market trends and tighten the screws on Russia's war economy.
The dynamic price cap is followed by the EU, the UK, Canada, Japan and Australia, while the United States retains the original level of $60 per barrel.
In practice, the full ban would mean the cap would effectively cease to apply within EU jurisdiction, as companies would be forbidden from servicing all Russian vessels without exemption, regardless of whether they sell above or below the price limit.
Finland and Sweden had argued the prohibition would significantly drive up material costs for Russia's oil sector, be easier to implement for EU actors and crack down on falsified documents, which Moscow often uses to bypass sanctions.
However, it is not yet clear if the other member states would be on board with the idea. Any decision would require the unanimity of the 27 capitals.
A similar ban would apply to the maintenance of Russian tankers of liquefied natural gas (LNG) and icebreakers, von der Leyen said. An extra 42 vessels from Moscow's "shadow fleet" would be blacklisted, bringing the total to 640.
