Blow to oil revenues and trade: EU unveils 20th sanctions package against Russia
Photo: Ursula von der Leyen, president of the European Commission (Getty Images)
20th sanctions package: energy and the shadow fleet
The new restrictions are intended to further undermine Moscow’s oil revenues. The measures proposed by the European Commission include:
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A complete ban on maritime services for Russian crude oil (in coordination with the G7);
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Sanctions against another 43 vessels of the shadow fleet (bringing the total number on the list to 640);
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A ban on servicing LNG tankers and icebreakers, dealing a blow to Russia’s gas export projects.
"Russia's fiscal revenues from oil and gas dropped by 24% in 2025 compared to the previous year, the lowest level since 2020, widening its fiscal deficit. Oil and gas revenues in January will be the lowest since the war began," von der Leyen noted.
Blow to the banking system and cryptocurrency companies
The European Commission is proposing to ramp up pressure on the financial sector, which von der Leyen described as Russia’s "weak point."
Under the European Commission’s plans, 20 Russian regional banks would be added to the sanctions list.
Measures are also planned against cryptocurrency companies and platforms that help circumvent sanctions. Banks in third countries that facilitate illegal trade are also expected to be targeted.
Export and import restrictions
The new package also includes export restrictions on goods — ranging from tractors to cybersecurity services — worth more than €360 million, as well as import bans on metals and minerals totaling €570 million.
According to the package proposed by the European Commission, the anti-circumvention instrument is set to be activated for the first time for computer numerical control (CNC) machine tools.
"I now call on the Member States to swiftly endorse these new sanctions. Doing so would send a powerful signal ahead of the grim 4th anniversary of this war: our commitment to a free and sovereign Ukraine is unwavering," the European Commission president said.
When the sanctions could be adopted
EU foreign policy chief Kaja Kallas previously said that the 20th package of sanctions against Russia is planned to be adopted on February 24 — the fourth anniversary of Russia’s full-scale invasion of Ukraine.
