The President of the European Commission, Ursula von der Leyen, today presented a new package of restrictive measures against Russia, which the Commission proposes to include in the EU’s 21st sanctions package. The aim is to maintain economic pressure on Moscow and further limit its ability to finance the war in Ukraine.

According to von der Leyen, the new package focuses on the sectors of energy, financial services and cryptocurrencies, trade, and—for the first time—the fisheries sector.

Energy Measures

In the energy sector, the Commission proposes suspending, until January of next year, the automatic adjustment mechanism for the price cap on Russian oil. The decision is justified by ongoing volatility in global energy markets stemming from the Middle East crisis and disruptions in international supply chains.

According to von der Leyen, the measure is intended to stabilize markets while continuing to put pressure on Russian revenues.

The Commission is also proposing sanctions against 30 additional vessels belonging to the so-called “shadow fleet” used to transport Russian oil, increasing the total number of targeted ships to more than 660.

For the first time, sanctions would also target ships and companies providing support services to this fleet, such as fuel bunkering operations. Additional measures are proposed against ports, airports, and refineries involved in the transportation or processing of Russian oil, as well as restrictions on the sale of liquefied natural gas (LNG) tankers to Russia.

Financial Sector and Cryptocurrencies

In the financial sector, the European Commission proposes extending transaction restrictions to 31 additional Russian banks, as well as to 20 banks, cryptocurrency firms, platforms, and oil traders in third countries that Brussels says help Russia circumvent Western sanctions.

For the first time, the package would also allow for a complete ban on the provision of crypto-asset services by entities based in third countries. The Commission believes this measure would deter platforms that facilitate Russian access to the international financial system.

Trade Restrictions

The Commission is proposing new export restrictions on technologies and materials used by Russia’s defense industry, including metals and alloys employed in aerospace and military production.

Specific measures targeting unmanned aerial vehicles (drones) include export bans on ground-support equipment, jamming systems, and launch systems.

At the same time, the Commission proposes new import bans on products worth approximately €60 million, including certain metals, ores, and automotive spare parts, with the goal of further reducing the EU’s dependence on Russian imports.

Fisheries Sector Targeted for the First Time

Particular emphasis is placed on fisheries, a sector targeted for the first time under EU sanctions. The proposal includes significant restrictions on imports of certain fishery products and a complete ban on others.

Entry Ban for Former Russian Military Personnel

Von der Leyen also announced that the Commission is proposing a ban on entry into the EU for individuals who have served in the Russian armed forces since the beginning of the invasion of Ukraine.

“Europe must remain closed to those who participated in the invasion of Ukraine,” she stated.

Impact of Existing Sanctions

Von der Leyen argued that previous sanctions packages are producing tangible results and continue to affect the Russian economy.

She stated that the cost of the war for Russia is rising every day and is increasingly borne by the Russian population, which is suffering casualties and a declining standard of living. She cited inflation approaching 6% and interest rates at 14.5%.

According to her, EU sanctions have “effectively cut Russia off from international capital markets,” while economic growth is slowing, fiscal flexibility is shrinking, and energy revenues have fallen significantly.

Russia’s Actions and EU Support for Ukraine

The Commission President also highlighted what she described as an escalation of Russian attacks on Ukraine and violations of European airspace, referring to drones entering areas of the Baltic region and along the EU’s eastern borders.

She mentioned recent incidents including a drone crash into a residential apartment building in Romania and an explosion at the Port of Constanța.

“Some call it Russian escalation. I see it differently. It is simply failure,” she said, adding that four years after the start of the full-scale invasion, “Russia has clearly failed to subjugate Ukraine.”

Von der Leyen reaffirmed the EU’s continued support for Ukraine, describing it as a “brave neighbor, partner, and future member of the European Union.”

She noted that the EU had allocated nearly €3 billion from the Ukraine Facility the previous day, while the first disbursement from a €90 billion loan package to Kyiv is expected later in June.

By the end of the month, the EU will have provided €6 billion for drones and more than €3 billion in macro-financial assistance, with additional payments planned in the coming months.

Ukraine and Moldova’s EU Accession Process

Finally, von der Leyen announced that in the coming days the EU will open its first negotiating chapter with Ukraine and Moldova, marking the next phase of their accession process.

She said that Ukraine is making “exceptional progress” in implementing reforms and meeting accession requirements, adding:

“Now it is our turn to respond.”

She concluded by stating that the Commission is fully prepared to support Ukraine on its path toward EU membership, “where it belongs.”