:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/FDH2K5VCBI6VOPRB6UHHNU7NYY.jpg "The EU is considering imposing a new round of sanctions on Russia: the fourteenth since the start of the invasion of Ukraine")
The European Union is considering imposing a new round of sanctions on Russia, marking the fourteenth package since the start of the war in Ukraine. The Ambassadors of the twenty-seven member states of the EU met to debate the proposed sanctions, which would target Russia’s liquefied natural gas in European ports. The aim is to have a significant impact on Russian finances and could potentially be implemented as early as June.
The proposed sanctions would affect the transfer of LNG in European ports, with a focus on terminals in Belgium, France, and Spain. The move comes as purchases of Russian pipeline gas in Europe have decreased by 71% since the conflict began, while purchases of liquefied natural gas have remained stable. The sanctions seek to prevent the Kremlin from trading through European links and using the income to finance its war offensive in Ukraine.
In addition to considering sanctions on LNG, some EU member states have urged action against the Russian fleet in the Baltic Sea, which continues to export oil with the help of ships from third countries, despite EU restrictions. The Ambassadors also reached an agreement to transfer the benefits of Russian assets frozen in Western accounts to Ukraine to support its recovery and military defense efforts.
The EU has agreed to allocate the benefits of frozen Russian assets to Ukraine, with the first transfer scheduled for June. The funds will primarily support weapons shipments to Ukraine through the European Peace Support Fund, with additional support provided through a macro-financial aid package. This year, the EU has committed to providing 50 billion euros to Ukraine over the next four years, through a combination of loans and grants.
The decision to impose new sanctions on Russia and support Ukraine comes as the conflict in Ukraine continues to escalate. The EU is taking steps to further isolate Russia and provide assistance to Ukraine in its efforts to defend against the Russian invasion.