By Kateryna Mykhailova

Copyright kyivpost

The European Commission unveiled its 19th package of sanctions against Russia on Friday, targeting energy imports, banks, crypto platforms, military suppliers and battlefield technology exports.

The move follows Russia’s large-scale drone and missile attacks on Ukraine, including strikes on government buildings, civilian homes, and the EU office in Kyiv. Russian drones also violated EU airspace in Poland and Romania in the past two weeks, prompting a historic NATO response.

Cutting Russia’s energy revenue is one of the EU’s top priorities in the new sanctions package, according to EU Commission President Ursula von der Leyen.

“Russia’s war economy is sustained by revenues from fossil fuels. We want to cut these revenues,” von der Leyen said.

“So we are banning imports of Russian LNG into European markets. It is time to turn off the tap. We are prepared for this.”

The move also echoed recent criticism from US President Donald Trump that some NATO and EU members are still purchasing Russian oil and gas.

The 18th package previously lowered the price cap for crude oil from $60 to $47.6 per barrel, and further increased the list of bans against Nord Stream, Russian banks and petroleum products.

Now, European authorities have sanctioned another 118 vessels from Russia’s shadow fleet that help the country evade current restrictions.

Rosneft and Gazpromneft, Russia’s two largest state-controlled oil companies, will now be on a full transaction ban, von der Leyen said.

The EU has also been targeting companies that buy Russian oil in breach of sanctions, including refineries and traders in third countries. Over the past three years, Russia’s oil revenues in Europe have declined by 90%.

Financial loopholes are the next target in the 19th sanctions package, with additional Russian banks facing transaction bans.

Banks in third countries that help Russia evade sanctions are restricted. Crypto platforms now fall under EU sanctions. The block also restricts transactions with entities in special economic zones.

According to von der Leyen, the EU is also blocking exports of battlefield technologies, sanctioning 45 companies in Russia and other countries that supply the Russian military. Drones and other military technologies are subject to the new restrictions.

EU analysis shows Russia struggles economically, according to von der Leyen. Interest rates reach 17%, inflation stays high, and financing and revenue access shrink.

Partners who spoke to Russian authorities said sanctions relief is among Russia’s top requests, according to von der Leyen.

“We know that our sanctions are an effective tool of economic pressure. And we will keep using them until Russia comes to the negotiation table with Ukraine for a just and lasting peace,” she said.

The EU is also now working to finance Ukraine’s defense using frozen Russian assets. The plan would provide Ukraine with a reparation loan backed by these assets.

The assets themselves will stay untouched, and Ukraine will repay the loan only after Russia pays reparations.

“And the risk will have to be carried collectively. Ukraine will only pay back the loan once Russia pays reparations. We will come forward with a proposal soon,” von der Leyen added.

Multiple European countries have raised legal concerns over the direct seizure of the frozen assets, with that plan still in limbo.

The EU is also coordinating sanctions with G7 partners under Canada’s leadership. Europe is working closely with the Coalition of the Willing – a group of countries that have agreed to support Ukraine militarily after a peace deal is reached.

On Wednesday, the EU announced it will provide €6 billion ($7 billion) to support Ukraine’s drone production. The funding will come from interest generated by frozen Russian assets.

The announcement followed the news that 19 Russian drones crossed into Polish airspace – an unprecedented incident for the NATO member bordering Ukraine.