Von der Leyen reveals sectors targeted in new EU sanctions against Russia

Von der Leyen announced this during the presentation of proposals for the new package of sanctions, as reported by Espreso correspondent Tatyana Vysotskaya.

The President of the European Commission emphasized that the EU seeks peace, but Russia continues to bring death and destruction to Ukraine despite weeks of diplomatic attempts to achieve an unconditional ceasefire.

She stated that Russia’s goal is not peace but the imposition of force, and therefore, the EU is increasing pressure on Russia because force is the only language Russia understands.

Von der Leyen also pointed out that the Russian economy has been deeply affected by the sanctions: 210 billion euros of the Central Bank of Russia’s reserves have been frozen, Russia’s revenues from oil and gas sales have fallen by almost 80% compared to the pre-war period, the budget deficit is rapidly growing, inflation exceeds 10%, and prices of imported technologies and critical goods are six times higher than before the war and the global average.

Von der Leyen said that the Russian economy is constrained by the war economy and is sacrificing its future prospects. She emphasized that the message is very clear: the war must end, a real ceasefire is needed, and Russia must come to the negotiating table with a serious offer. Since Russia has shown no desire to achieve peace so far, she stated that pressure on Russia will be increased, including through further tough sanctions.

The President of the European Commission explained that the proposed 18th package of sanctions mainly targets two sectors: the Russian energy sector and the Russian banking sector. She added that export bans and controls would be expanded, alongside strengthened anti-circumvention measures.

Von der Leyen noted that, for the first time, a transaction ban has been proposed for Nord Stream 1 and Nord Stream 2, meaning no EU operator would be allowed to participate directly or indirectly in any transaction involving the pipelines. She also said that the proposals include lowering the oil price cap from $60 to $45 per barrel, as oil exports still account for about one-third of Russia's state revenues.

She explained that the oil price cap is a coalition measure of the G7, and that discussions at the upcoming G7 summit in Canada would focus on how to act together. To better ensure compliance with the cap, she added that, in addition to the 342 vessels already listed, 77 more vessels identified as part of the Russian shadow fleet would be added, as these vessels are used to evade sanctions.

The official also stated that the sanctions will target the Russian banking sector by limiting its ability to raise funds and conduct transactions. In particular, she explained that the current ban on using the SWIFT system is proposed to be transformed into a complete ban on conducting transactions, which may also apply to 22 additional Russian banks.

Von der Leyen added that there is a proposal to extend the transaction ban to financial operators in third countries that finance trade with Russia in ways that circumvent sanctions. She further mentioned plans to impose sanctions on the Russian Direct Investment Fund, its subsidiaries, and investment projects, which would severely restrict an important channel for financing projects aimed at modernizing the Russian economy and strengthening its industrial base.

According to the President of the European Commission, the third aspect concerns an export ban valued at over 2.5 billion euros, intended to deprive the Russian economy of critical technologies and industrial goods. She noted that restrictions would also apply to the export of dual-use goods and technologies used in producing drones, missiles, and other weapons systems.

She also indicated that the list includes 22 Russian and foreign companies providing direct or indirect support to the Russian military-industrial complex.

Lastly, von der Leyen explained that the EU aims to improve the implementation and enforcement of sanctions by expanding the scope of the existing transaction ban. She emphasized that Putin’s ability to continue the war depends significantly on the support he receives from third countries, and those who support Russia’s war efforts bear great responsibility. She concluded by stating that the new package increases pressure on Russia, reiterates the call for a complete, unconditional ceasefire for at least 30 days, and described such a pause as a vital step toward reducing civilian suffering and creating space for meaningful negotiations to achieve real peace.

• Earlier, media reports said that the European Commission was set to propose a new round of sanctions against Russia, which included lowering the Russian oil price cap and banning the use of Nord Stream infrastructure.