The new package of sanctions against Russia will affect LNG and companies in China

This week, the European Union approved the contents of a new, 14th package of sanctions against Russia. This time, the main measures are aimed at the tanker fleet, the transshipment of liquefied natural gas (LNG) and Russian companies in third countries, including China.

The head of the European Commission, Ursula von der Leyen, said that the sanctions are aimed at reducing Russia's energy revenues and restricting access to key Western technologies. The main purpose of the package is to strengthen the effect of existing sanctions and close loopholes to circumvent them.

The key measures of the package include:

1. A ban on transshipment of Russian LNG through the EU, including transshipment from ship to ship and to shore.

2. A ban on investments, services and goods for new LNG projects affecting the Russian tanker fleet.

3. A ban on EU firms operating outside Russia connecting to the SWIFT-equivalent SPFS system and a ban on transactions with firms using this system to circumvent sanctions.

4. A ban on EU operators from transactions with banks that facilitate trade in technology and military goods.

5. Restrictions on trading with new companies in China, Turkey and India.

6. Banning political parties, think tanks and media providers from accepting Russian funding.

7. Increased checks for EU companies whose goods continue to be supplied to Russia through intermediaries.

8. Export controls on chemicals, manganese ore, plastics, electronics and earthmoving equipment that can be used for military purposes, as well as restrictions on the import of helium.

9. Stricter measures on air and road transport, control over the registration of Russian intellectual property rights in the EU and the export of Ukrainian cultural property.

This package of sanctions must be officially adopted by the EU states before it comes into force.