What the next EU sanctions package on Russia will include: Caps on oil, LPG and technology

What the next EU sanctions package on Russia will include: Caps on oil, LPG and technology
What the next EU sanctions package on Russia will include: Caps on oil, LPG and technology

Several European Union states are pushing for further sanctions against Russia as the bloc struggles to agree on a ceiling on the price of Russian oil.

Poland, Ireland and the three Baltic states want the EU to expand its sanctions on Russian energy to include a ban on LPG products and restrictions on nuclear energy cooperation, according to a document seen by Bloomberg and people familiar with the matter. they are aware of the issue.


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EU countries’ proposals include cutting more banks off the SWIFT international payment system, starting with Gazprombank. The Russian giant has so far escaped most of the bloc’s sanctions, as European companies use it to pay for gas deliveries.

The focus is on the cap on Russian oil

Latvia, Lithuania, Estonia, Ireland and Poland also want to see a ban on insurance services and the transfer of US dollar banknotes to Russia, as well as tighter restrictions on cryptocurrency transactions, according to the document.

EU member states and the European Commission are in talks to prepare a new package of sanctions, likely to include more trade restrictions, individuals and an attempt to agree a cap on Russian oil.


A cap would bring the EU into line with the US effort to keep crude prices at normal levels. But it would also likely require the bloc to relax a ban on services – such as insurance – needed to transport oil to allow them to be provided on shipments below the agreed price threshold. This ban is due to come into effect in December and the cap will need the support of all member states.

Cybersecurity and technology among five EU states’ ‘demands’ on Russia sanctions

A senior diplomat for one of the five EU member states told Bloomberg that if the new set of measures includes the cap, then those countries would like to see overall sanctions strengthened in order to support the oil measure.

The five countries also propose banning the use of Russian cybersecurity company Kaspersky Lab in the EU, tightening restrictions on technology exports and adding more goods to the list of banned technology products, including data processing machines, storage devices and many electronics.

In addition, countries want:


  • Broadening the scope of restrictions on Russian ships entering EU ports, on the provision of business services to Russia and establishing a ban on IT services in Russia, including software and cyber security services.
  • A ban on the import of diamonds originating in Russia, an extension of steel import restrictions, as well as a ban on the sale of real estate to Russian companies and non-EU citizens.
  • Sanction more Russian propaganda outlets and ban EU-registered entities that receive funding from organizations linked to the Russian state.
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The article is in Greek

Tags: sanctions package Russia include Caps oil LPG technology

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