Overview
- The European Commission adopted and presented its latest Russia sanctions package to the Council for approval, with Ursula von der Leyen set to brief capitals on details later today.
- The measures are expected to target crypto, banking channels and energy as the bloc seeks to further curb Moscow’s wartime revenues.
- An option to bring forward an end to Russian LNG purchases is under consideration, potentially via the sanctions text or by revising RePowerEU, with feasibility linked to an expected global gas surplus in the second half of 2026.
- U.S. President Donald Trump has pressed Europe to tighten energy restrictions, while many EU governments resist broad tariffs on India and China and instead discuss listing specific companies tied to Russia’s oil trade.
- Despite earlier curbs on oil, Russia still supplied about 19% of EU gas in 2024 and EU buyers paid billions for LNG in 2025, highlighting why an accelerated phase-out is being debated.