EU proposes new sanctions package against Russia

EU chief Ursula von der Leyen during debate on support for Ukraine, as part of a plenary session at the European Parliament in Strasbourg, eastern France, on March 11, 2025. [AFP]

The European Commission said Friday it has presented a fresh package of sanctions against Russia for approval by member states, as the bloc seeks to up the pressure on Moscow over the war on Ukraine.

EU chief Ursula von der Leyen, who was to outline details of the package later Friday, anticipated this week that it would target crypto and banks, and seek to speed up the phase-out of Russian fossil fuel imports.

"We can confirm that the commission has adopted a new package of sanctions against Russia, the 19th package," commission spokeswoman Paula Pinho told a press conference in Brussels.

The 18 rounds of European sanctions imposed since Moscow invaded Ukraine in February 2022 have sought to sap its war chest with everything from asset freezes to a near-complete ban on importing Russian oil.

The finalisation of the latest package comes after US President Donald Trump demanded that allies stop buying Russian oil and slap tariffs on China -- before he moves on punishing Moscow.

After speaking with Trump this week, von der Leyen said the commission wanted to speed up "the phase-out of Russian fossil imports" -- which the bloc until now planned to eliminate by the end of 2027.

As the EU has already banned most Russian oil -- slashing the share of imports from 29 percent in early 2021 to two percent by mid-2025 -- the new measures are expected to focus on gas imports.

Despite a push to end decades of European dependency, Russia still supplied 19 percent of the EU's gas in 2024 -- down from 45 percent before the war.

This is in part down to an increase in purchases of liquefied natural gas (LNG) transported by sea, which have partially offset a sharp fall in pipeline imports.