BRUSSELS — The European Commission plans to eliminate all purchases of Russian liquefied natural gas by 2026 — a year earlier than planned — and crack down on Moscow’s sanctions-busting banks and crypto channels, according to a draft proposal seen by POLITICO.
The proposal lays out the latest measures the European Union would impose on Russia as part of its 19th sanctions package since Vladimir Putin’s full-scale invasion in 2022. It zeroes in on Russia’s financial networks, energy exports and backdoor trade routes, marking the latest European efforts to drain the Kremlin’s war chest.
The aim of the ban on Russian LNG is “to further decrease Russia’s revenues from the export of fossil fuels, raise the costs of its illegal actions in Ukraine and put maximum pressure on Russia to cease its war of aggression against Ukraine,” the text reads.
The package, which was announced Friday by Commission President Ursula von der Leyen, comes only days after President Donald Trump again put pressure on Europe to stop buying Russian energy. Nonetheless, it is expected to face fierce opposition from Hungary and Slovakia. Every sanctions package requires unanimous backing from EU capitals.
