Overview

• The European Commission announced a 19th sanctions package that for the first time targets Russian liquefied natural gas, proposes an accelerated phase-out by January 1, 2027, and adds curbs on banks, crypto platforms, and sanctions evasion networks.
• The plan would blacklist 118 additional vessels linked to Russia’s ‘shadow fleet’ and tighten restrictions on refineries, traders, and companies in third countries accused of helping Moscow bypass existing measures.
• EU leaders must unanimously approve the package before it takes effect, with Hungary and Slovakia seen as potential holdouts given past energy-related vetoes.
• In Washington, the bipartisan SHADOW Fleets Act was introduced by Senators Jim Risch and Jeanne Shaheen to define indicators for identifying evasion tankers, impose liability for ship-to-ship transfers with sanctioned vessels, sanction Arctic and new Russian LNG projects, and terminate Nord Stream II.
• Ukraine’s President Volodymyr Zelensky welcomed the EU move and voiced support for work on a mechanism to use revenues from frozen Russian assets to support Ukraine.