The European Union plans to introduce the 16th package of sanctions against the Russian Federation.
The new package of sanctions includes restrictions on dozens of shadow fleet vessels that carry Russian oil and further export controls on goods used for military purposes. This will also lead to more banks being cut off from the SWIFT international payment system. Bloomberg reported this.
Also, as part of the new sanctions, Brussels is considering the possibility of introducing restrictions on the import of Russian aluminum and a refusal to supply liquefied natural gas.
It is noted that restrictions on aluminum will be gradual, and the time frame and scale are yet to be determined. The withdrawal of Russian LNG could be implemented either through a sanction or as part of a roadmap that the EU executive body is due to present in February.
However, some European officials believe that it is inappropriate to impose sanctions against liquefied natural gas from Russia, because a group of countries, in particular Hungary and Slovakia, still depend on Gazprom supplies. But perhaps Spain, Belgium and France will support these sanctions, although they use Russian gas.
Let us remind you that India, following China, will abandon Russian oil tankers that are subject to American sanctions. Indian refiners are currently negotiating with Middle Eastern suppliers to reach new agreements.
Source: Bloomberg
Source: Racurs
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