European Commission proposes 19th sanctions package on Russia

European Commission President Ursula von der Leyen on Friday announced the Commission's proposals for a 19th package of sanctions on Russia, primarily targeting the energy and financial sectors.

According to a statement, the EU plans to ban imports of Russian liquefied natural gas into its market and lower the price cap on Russian crude oil to $47.6 per barrel. Russian energy companies Rosneft and Gazpromneft would face a full trading ban.

The EU will also expand the ban on transactions involving banks in Russia and other countries, and for the first time include cryptocurrency platforms in the sanctions.

Under EU procedures, the new round of sanctions must be approved unanimously by all 27 member states before taking effect.