EU proposes new sanctions on Russia's oil, banks and shadow fleet

The European Union has formally proposed a new round of sanctions against Russia to pressure the Kremlin to accept an unconditional 30-day ceasefire in Ukraine, a step that Western allies consider a necessary prelude to serious peace negotiations.

If approved by member states, this would mark the 18th sanctions package since February 2022, the largest regime ever imposed by the bloc.

The latest proposal, unveiled Tuesday by European Commission President Ursula von der Leyen and High Representative Kaja Kallas, expands the blacklist of Russian banks and tankers from the “shadow fleet.” So far, Brussels has targeted over 350 ships from the poorly maintained fleet, which has been accused of involvement in sabotage and vandalism.

The plan also includes a ban on the Nord Stream pipelines that connect Russia and Germany under water. The pipelines are currently non-functional and Berlin has ruled out resuming gas transit after the war is over.

In theory, the EU could pass new legislation to lower the ceiling level itself, in an attempt to further squeeze Moscow's profits./CNA

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