The European Union has decided to support Ukraine in its defensive struggle against Vladimir Putin’s Russian imperialism through the following measures:
- The use of the Nord Stream gas pipelines will be prohibited.
- The price cap on Russian oil will be lowered from $60 to approximately $47 per barrel.
- Sanctions will be imposed on 105 additional vessels linked to Russia’s shadow fleet, which have been used to circumvent existing sanctions.
- The exclusion of Russian banks from the international SWIFT payment system will be expanded into a full trade embargo.
- An additional 22 Russian banks will be included in the trade embargo.
- Trade bans targeting entities in third countries will continue if they are found to be assisting Russia in evading sanctions.
- The EU proposes sanctions against the Russian Direct Investment Fund, its partners, and its investment targets.
- The EU is proposing new export bans to Russia worth over €2.5 billion. These bans would target machinery, metals, plastics, and chemicals used in industry.
- The export of dual-use goods to Russia will be prohibited. This includes items that could also be used for manufacturing weapons.
- The EU has identified 22 new Russian or international companies that have supported Russia’s war economy.
This package is a good step, and hopefully it will lead to the gradual collapse of Russia’s war economy. However, what is needed right now is also more concrete military assistance for the Ukrainian army, so that the front-line situation turns in favor of the Ukrainians instead of the Russians constantly having the upper hand.
The United States – at least according to President Donald Trump – is already delivering a new military aid package to Ukraine. Therefore, now is also the right time for EU countries to do their part, so that the shift in the balance of power between the warring parties will be as significant as possible.
Previous thoughts on the same topic:
Ukraine’s Former Foreign Minister Warns Against Another 1939
Warnings from Jussi Halla-aho and Igor Girkin About Europe's Near Future
Supercell’s Ban: The Sanction That Hit Russians the Hardest
In my understanding, the EU has not been very effective increasing the production of military supplies. Mostly production has been hard speech and no action. This is absolutely shameful.
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