The European Union is preparing its 19th sanctions package against Russia, targeting banks, energy companies, and payment systems, with coordination underway with the United States for joint action.
Europe Considers Expanded Pressure on Moscow
The European Union is preparing a new round of sanctions on Russia, with proposals aimed at several banks, energy firms, and financial infrastructure in an effort to intensify pressure on President Vladimir Putin over the war in Ukraine.
If adopted, the package would represent the bloc’s 19th set of measures since Russia launched its full-scale invasion in 2022. People familiar with the discussions said the latest steps could also extend to Russia’s payment and credit card systems, cryptocurrency exchanges, and further restrictions on its oil trade.
Coordinating With Washington
The EU is working to align its approach with the United States. A delegation of senior European officials is expected in Washington this week to hold talks with American counterparts on potential joint measures.
“We are prepared to increase pressure on Russia, but we need our partners in Europe to follow,” US Treasury Secretary Scott Bessent said in an interview on NBC’s Meet the Press on Sunday.
The statement underscores Washington’s push for greater transatlantic coordination as the war grinds into its fourth year.
Sanctions Since 2022
Since Moscow’s invasion began, the EU has steadily expanded its sanctions framework, targeting Russia’s financial sector, energy exports, technology imports, and individuals linked to the Kremlin. These measures have been designed to cut off key revenue streams for the Russian state while limiting its ability to sustain military operations.
The proposed 19th package marks one of the broadest efforts yet, with consideration being given not only to core financial institutions but also to newer channels of revenue and payment, including digital assets.
Focus on Energy and Financial Flows
Energy remains a central point of leverage. While earlier sanctions restricted Russian oil exports to Europe, further measures could tighten access to global markets. At the same time, sanctioning banks and payment systems would deepen Russia’s financial isolation, making it harder to process international transactions.
By extending measures to cryptocurrency exchanges, European leaders aim to close potential loopholes that have allowed some Russian entities to bypass traditional banking restrictions.
A Sign of Escalating Resolve
The EU’s move to prepare another package highlights both the scale of Moscow’s resilience and Europe’s determination to sustain pressure. Officials acknowledge that such measures require delicate coordination with allies to maximise impact while limiting disruption to global energy and financial markets.
The talks in Washington this week will be critical in shaping whether the EU and US can align on a unified sanctions strategy that tightens the economic noose around Russia.
