EU Targets Russian LNG, Crypto, & Banking In Sweeping 19th Sanctions Package

The EU announced its 19th package of sanctions against Russia, including a ban on Russian liquefied natural gas (LNG) imports. These sanctions were coordinated with the U.S., which had previously sanctioned Russian oil giants. Ukrainian President Zelensky welcomed the "well-targeted" sanctions, encouraging other leaders to follow suit. The sanctions target Russia's energy, finance, and military-industrial complex, as well as movements of Russian diplomats. Specifically, the sanctions focus on Russian state-supported crypto, including the stablecoin A7A5 and related platforms. The EU's sanctions also aim at restricting transactions and financial relationships with specific banks and entities. The measures extended to the shadow fleet, targeting vessels circumventing oil price caps. Russia's initial response criticized the sanctions, claiming they backfire on Brussels and have exhausted their potential. These sanctions intend to limit Russia's ability to finance its war efforts, hoping to undermine the Russian economy. Kaja Kallas stated that the 19th package would not be the last, hinting at further restrictive measures.