Reported 8 months ago
EU officials in Brussels have signed a new round of sanctions targeting Russia, specifically focusing on the lucrative liquefied natural gas (LNG) industry. These measures aim to prevent Russia from obtaining key technology and further reduce Russia's energy revenue, also touching upon shadow fleets and shadow banking networks linked to Putin abroad. This marks the 14th round of sanctions since Russia's invasion of Ukraine in 2022 and includes restrictions on the transit of Russian LNG through European ports but not on EU countries purchasing Russian LNG. The sanctions also aim to curb Russian military support by restricting trade with Chinese companies aiding Russia, alongside limitations on political parties, think tanks, and media institutions receiving Russian funding. German pressure softened certain restrictions in the sanctions package proposed by the EU Commission in May, delaying the consensus agreement. The EU is also targeting the use of the SPFS banking information system by Moscow to bypass SWIFT after being cut off due to sanctions.
Source: YAHOO