Agency Report –
Germany and France are pushing for tougher new EU sanctions against Russia, with a focus on the energy sector, according to a policy paper shared with other EU member states.
The two governments said Russian oil remains the Kremlin’s main source of funding for its war against Ukraine.
The paper, seen by dpa, calls for targeting additional oil companies, such as Moscow-based Lukoil, and service providers involved in the Russian oil industry. This could include firms responsible for exporting Russian oil to the EU or trading in Russian crude.
Extending the price cap mechanism to European companies transporting refined products from Russian oil via third countries is also under consideration.
Currently, sanctions target companies involved in shipping Russian oil above the so-called price cap, including shipping lines and firms offering insurance, technical support, financing, or brokerage services.
Berlin and Paris also want to close financial and logistical loopholes that allow Russia to evade existing sanctions. Proposed measures include sanctioning additional Russian banks and foreign institutions linked to the central bank’s SPFS payment system.
Currently, around 250 small and regional banks are involved in international transactions supporting Russia’s war effort, the paper says.
Germany and France are also considering sanctions against actors in the automotive, civil aviation, gold, machinery and electrical engineering sectors connected to Russia’s military-industrial complex, as well as new import bans or higher tariffs.
The proposals will feed into planning for a 19th EU sanctions package, which will require approval from all member states. Some countries, notably Hungary, remain sceptical of all new sanctions against Russia, posing a challenge to approval.
