Key Points and Summary – The U.S. and E.U. have unveiled parallel, sweeping new sanctions against Russia, causing global oil prices to surge by over $2 a barrel.
-The E.U.’s 19th sanctions package is designed to choke Moscow’s energy revenue by banning Russian LNG imports, blacklisting over 100 “shadow fleet” tankers, and restricting crypto and AI services. Russia called the moves “painful… but not deadly.”
Putin in 2022. Image Credit: Creative Commons.
-The economic escalation coincides with a diplomatic freeze, as President Trump suspended his upcoming peace summit with Vladimir Putin, calling it a “wasted meeting,” which prompted new nuclear drills from the Kremlin.
Oil Prices Surge Amid Fresh Sanctions on Russia over Ukraine War
The European Union has announced a sweeping new package of sanctions against Russia, tightening restrictions on energy and technology sectors just a day after President Donald Trump unveiled parallel restrictions targeting Moscow’s oil giants.
The purported aim of these new measures is to push Russian President Vladimir Putin back to the negotiating table over his full-scale invasion of Ukraine.
Ukrainian President Volodymyr Zelenskyy told allies in Brussels on Wednesday that his government had, “waited for this,” adding: “God bless, it will work.”
Energy revenue remains the backbone of Russia’s economy, allowing the Kremlin to bankroll its military while cushioning inflation.
The new EU package aims squarely at that foundation: banning imports of Russian liquefied natural gas, blacklisting more than 100 additional tankers from Moscow’s “shadow fleet,” and expanding the total number of banned vessels to 557.
The measures also prohibit EU transactions with a cryptocurrency favored by Russian entities to evade sanctions, restrict access to AI and high-performance computing services, and broaden export bans to include electronic parts and chemicals used in weapons manufacturing. A new system will further limit Russian diplomats’ movements inside the bloc.
The announcement pushed global oil prices up by more than $2 a barrel on Thursday as traders anticipated disruption to supply chains.
Russia’s Foreign Ministry denounced the steps as “entirely counterproductive,” insisting that Western efforts to coerce Moscow into compromise would fail. State media echoed the defiance: one tabloid said sanctions would “not make things any sweeter for Zelenskyy,” while RIA Novosti conceded they were “painful, as usual, but not deadly.”
Russia has already endured 18 previous rounds of sanctions since 2022, and European officials have told the Washington Post that each fresh package is more difficult to agree to than the last.each new package is harder to negotiate, reflecting divisions within the 27-member bloc over how far to escalate.
This news comes amid Trump’s suspension of a scheduled meeting with Putin in Budapest, complaining that plans to hold it in coming weeks or days would be a “wasted meeting”, given that no peace deal currently seems to be on the horizon.
Following the White House’s announcement, the Kremlin carried out a slew of nuclear drills. Regardless of Washington’s maneuvers, it is clear that Russia is keen to show just how much sway it also still holds.
About the Author: Georgia Gilholy
Georgia Gilholy is a journalist based in the United Kingdom who has been published in Newsweek, The Times of Israel, and the Spectator. Gilholy writes about international politics, culture, and education. You can follow her on X: @llggeorgia.
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