The proposed measures target Russia’s energy and banking sectors, the announcement stated. The EU is set to ban transactions involving Nord Stream 1 and Nord Stream 2, meaning no EU entity can directly or indirectly participate in any projects related to the pipelines.
Additional measures include lowering the price cap on Russian oil from US$60 to US$45 per barrel to better reflect market conditions that have shifted since the cap’s introduction in 2023. The sanctions list, which already included 342 vessels, now adds another 77 ships from Russia’s so-called “shadow fleet.” A ban on importing oil products derived from Russian crude is also on the table.
Furthermore, Brussels is proposing to include 22 Russian banks in the existing ban on transactions through the SWIFT system. The package would also introduce secondary sanctions against financial operators in third countries that deal with Russia in ways that circumvent EU sanctions, and it calls for restrictions on Russia’s Direct Investment Fund, its subsidiaries, and investment projects.
Another measure targets European exports totaling more than EUR2.5 billion ($2.9 billion). The sanctions would limit exports of goods for machinery, metals, plastics, and chemicals used as industrial raw materials. In addition, the EU seeks to limit the export of dual-use technologies and products that Russia uses to manufacture drones, missiles, and other weapons.
The bloc also added 22 Russian and foreign companies to its sanctions list for providing direct or indirect support to Russia’s military-industrial complex.
“With this package, we step up pressure on Russia,” von der Leyen said in a statement.
“Our objective is very clear: We are reiterating the call for a full, unconditional ceasefire of at least 30 days. This pause in hostilities could serve as a vital step toward reducing civilian suffering and allow space for meaningful talks for genuine peace.”