The EU has adopted a new round of sanctions against Russia, banning imports of liquefied natural gas starting in 2027 and, for the first time, including crypto platforms in the sanctions.

The EU has adopted a new round of sanctions against Russia, banning imports of liquefied natural gas starting in 2027 and, for the first time, including crypto platforms in the sanctions.

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According to CCTV News, on the 23rd local time, Kaja Kallas, the EU High Representative for Foreign Affairs and Security Policy, announced that the EU has officially approved the 19th round of sanctions against Russia.

Earlier that day, EU member states reached an agreement on the 19th round of sanctions against Russia. According to a previous statement published by the European Commission, this round of sanctions mainly involves the energy and financial sectors. The EU will ban Russian liquefied natural gas from entering the European market starting in 2027 and lower the price cap for Russian crude oil to $47.60 per barrel; Rosneft and Gazprom Neft will face a comprehensive transaction ban; the EU will extend transaction bans to more financial institutions in Russia and other countries, and, for the first time, include cryptocurrency platforms in the sanctions scope.

The report said that after its demands regarding energy prices, emissions targets, and the domestic automotive industry were met, Slovakia became the last EU member state to agree to this round of sanctions.

Following this news, international oil prices continued to rise on Thursday, currently up more than 3%; natural gas prices rose only slightly.

WallstreetCN previously reported that after diplomatic efforts with Russia reached an impasse, the Trump administration adopted the most severe economic pressure measures thus far, imposing sanctions for the first time on Russia’s two largest oil companies—Rosneft and Lukoil.

Analysts believe the core goal of this round of sanctions is to “weaken” Russia’s capital flows.

With Rosneft and Lukoil added to the list, the U.S. has now sanctioned all four of Russia’s largest oil companies. Among them, Rosneft is the world’s second largest oil producer, second only to Saudi Aramco.

According to Amrita Sen, an analyst at energy consultancy Energy Aspects, this move will “further complicate oil exports for Russian companies.” She believes the new sanctions may force Asian buyers to reduce imports of Russian oil.

Analysis points out that in 2022, Russian oil giants redirected their supply from Europe to Asia, but with this year’s global energy prices falling and the U.S. imposing secondary tariffs on Indian purchases of Russian oil, their situation has sharply worsened.

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