Targeting Virtual Assets, Banking, and Energy Sectors
Announcement of the 19th Sanctions Package
On September 16 (local time), Ursula von der Leyen, President of the European Commission, announced that she had a phone conversation with U.S. President Donald Trump to discuss ways to coordinate economic pressure on Russia.
After sharing this on X (formerly Twitter), President von der Leyen explained, "The European Commission will soon announce the 19th sanctions package targeting Russia's virtual assets, banking, and energy sectors."
She stated, "Russia's wartime economy, sustained by fossil fuel sales, is funding the bloodshed in Ukraine," and added, "To put an end to this, the Commission will soon propose to member states measures to speed up the phase-out of Russian fossil fuel imports."
The mention of "speeding up" is interpreted as a signal that the EU is partially responding to President Trump's demand that Europe should be the first to halt imports of Russian oil.
The EU has already established its own plan to completely halt imports of Russian fossil fuels by the end of 2027. However, President Trump has recently been demanding an immediate halt to oil imports and the imposition of a second round of tariffs.
Previously, the European Commission had planned to announce a new sanctions package against Russia, but postponed the schedule. According to Bloomberg News, this was due to the United States urging the EU and G7 allies to take a tougher stance, particularly by moving up the timeline for ending imports of Russian oil.
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