19th sanction package hits Russian LNG and cryptocurrency

In the final sanction package adopted on Thursday 19 against Russia for its invasion of Ukraine, the EU extended restrictions on services. A ban on cryptocurrency services will be introduced on all Russians and a ban on LNG imports will be introduced. 5 Russian banks will be sanctioned. Tourist services in Russia will not be possible.

Following the withdrawal of the veto against the 19th sanction package by Slovakia on Wednesday evening, a written procedure was launched, which ended on Thursday at 8am.

– This is simply a crucial package that hits the main sources of Russian gross through fresh energy, financial and commercial measures – informed the Danish Presidency of the Council of the EU.

The 19th package establishes a ban on Russian liquefied gas imports into the EU from 2027. According to the information provided by the Danes, The anticipation of buying LNG from Russia under short-term contracts will be prohibited after six months, while long-term contracts will be terminated at the beginning of 2027..

Russian energy has no reason to rejoice

Russia's 2 major oil companies – Rosnieft and Gazprom Nieft – will be banned from trading. The number of Russian ships subject to sanctions, including the ban on access to ports and insurance, will increase to 558. It is simply a alleged fleet of shadows – utilized ships transporting Russian oil, which Kremlin uses to sale natural material at prices higher than the limit provided for by sanctions.

The full transaction ban will include another 5 Russian banks. The restrictions imposed on Russian electronic payment systems (Mir and fast Payment System) as well as 4 3rd country banks from Belarus and Kazakhstan will be strengthened.

Cryptovalut and tourism not for Russians

Furthermore, the fresh package prohibits the provision of crypto-active services to Russian citizens, residents and entities from Russia.

The fresh sanctions will impose a ban on European tour operators in Russia. They will extend the ban on the provision of artificial intelligence services, calculations of advanced performance and commercial space services and will require the authorisation of any service that is inactive allowed to the Russian government or natural persons.

The sanctions will besides supply for a ban on the insurance of second-hand Russian aircraft and ships for the first 5 years after their sale to a 3rd country.

The EU will besides hit 17 3rd country companies, including 12 operating in China or Hong Kong, 3 in India, 2 in Thailand. Many of them are active in the improvement of drones.

The package will besides introduce a fresh mechanics limiting the movement of Russian diplomats within the EU. They will gotta notify their intention to enter the country in advance. Each associate State will decide whether to let them to enter. This voluntary nature of the government has led Italy, which was initially skeptical of this solution, to yet agree to it.

The package besides establishes fresh criteria for listing Ukrainian children's abductions by Russian forces.

Polon / PAP