Ursula von der Leyen: New EU Sanctions Target Russian LNG and Oil

Russia's Escalation and EU Response

• ⚠️ Russia has shown contempt for diplomacy and international law, launching large-scale drone and missile attacks against Ukraine, striking government buildings, civilian homes, and the EU office in Kyiv.
• ✈️ Russian Shahit drones have violated EU airspace in Poland and Romania, indicating an escalation by President Putin.
• 💡 In response, Europe is increasing its pressure and presenting the 19th package of sanctions.

Targeting Russia's War Economy

• ⛽ The EU aims to cut Russia's fossil fuel revenues, which sustain its war economy, by banning imports of Russian LNG into European markets.
• ✅ The EU is prepared for this step, having saved energy, diversified supplies, and invested in low-carbon energy sources.
• 🎯 New measures will also target refineries, oil traders, and petrochemical companies in third countries, including China, that purchase oil in breach of sanctions.

Economic Impact of Sanctions

• 📉 Oil revenues from Russia in Europe have decreased by over 90% in three years due to existing sanctions.
• 📊 Economic analysis shows sanctions are severely affecting the Russian economy, with a 17% interest rate, persistently high inflation, and decreasing access to finances.
• 🔑 The effectiveness of sanctions is evident as Russians are requesting sanction relief, indicating Russia's overheated war economy is reaching its limit.

Path to Just and Lasting Peace

• 🤝 The EU will continue using sanctions as an effective tool of economic pressure until Russia comes to the negotiation table with Ukraine.
• 🕊️ The ultimate goal is for Russia to leave the battlefield and engage in negotiations for a just and lasting peace.
• 🗳️ Member states are urged to quickly endorse these new sanctions to give peace a real chance.