The European Commission has proposed a 20th round of sanctions against Russia, aimed at cutting off maritime services linked to Russian crude oil.
These measures coincide with the approaching four-year mark of Russia's large-scale invasion of Ukraine on 24 February.
The proposal comes weeks after the EU have formally approved a regulation banning all Russian pipeline and liquefied natural gas (LNG) imports by late 2027.
The Commission plans to collaborate with G7 partners to enforce a total ban on maritime services related to Russia's oil exports.
Additional efforts target Russia's "shadow fleet" of tankers allegedly used to secretly evade existing sanctions.
The sanctions package also includes expanded restrictions on Russia’s banking sector and trade.
For the first time, the Commission intends to use its anti-circumvention tool to block the export of items like machinery and radios to countries that could reroute them to Russia.
European Commission President Ursula von der Leyen highlighted Russia's economic hardships, stating that tax revenues from oil and gas fell by 24% in 2025 compared to the previous year.
She noted that Russian revenues had reached their lowest point since 2020, aggravating the country's budget deficit amid high inflation and interest rates at 16%.
Von der Leyen emphasised that the sanctions are working and would remain in place until Russia engages seriously in negotiations for a just and lasting peace with Ukraine.
Regarding ongoing peace talks in Abu Dhabi, von der Leyen warned against overly optimistic expectations, stressing that Russia will only negotiate sincerely if pressured to do so.
The proposed sanctions package requires unanimous approval from EU member states to take effect.
