Von der Leyen pitches new EU sanctions on Russia's energy and financial sectors

The European Union is preparing to tighten nan screws connected Russia and compel Vladimir Putin into a 30-day unconditional ceasefire successful Ukraine done a caller information of sanctions that will target nan power and financial sectors, Ursula von der Leyen has said.

The president of nan European Commission pointed to Putin's refusal to meet pinch Volodymyr Zelenskyy successful Turkey and personally prosecute successful negotiations arsenic a logic to move guardant pinch hard-hitting restrictions connected nan Russian economy.

"President Zelenskyy was fresh to meet. President Putin ne'er showed up. And this shows nan existent belief of President Putin: he does not want peace," von der Leyen said connected Friday greeting arsenic she arrived astatine a acme of European leaders successful Albania.

"For us, it's important: we want peace. And therefore, we person to summation nan unit connected President Putin till he is fresh for peace."

According to von der Leyen, nan adjacent package of EU sanctions will spell aft Moscow's banks, galore of which are already nether broad bans, and Nord Stream I and II, nan state pipelines that link Russia to Europe and are presently non-operational.

A Commission spokesperson said sanctions connected Nord Stream would thief to "dissuade immoderate liking from investors successful pursuing immoderate activity" successful nan arguable project.

Brussels will besides activity to little nan value headdress connected Russian crude lipid that nan G7 and Australia imposed astatine nan extremity of December 2022.

The headdress prohibits Western companies from providing services to Russian tankers, specified arsenic insurance, financing and flagging, that waste crude lipid supra a value of $60 per barrel. The headdress has remained untouched since its approval, contempt beardown fluctuations successful Russia's worldwide waste and acquisition and ample grounds of circumvention.

Earlier this year, nan Nordic and Baltic personnel states pushed for a reappraisal of nan inaugural to little nan value tag and compression nan Kremlin's power profits.

Von der Leyen did not specify astatine which level nan headdress should beryllium set.

Given nan G7 dimension, nan alteration will require nan blessing of nan White House, which has truthful acold refrained from imposing immoderate caller sanctions against nan Kremlin, contempt Putin's continued refusal to abide by nan position laid retired by Donald Trump.

A spokesperson noted nan Commission would "reach out" to Washington to guarantee "coordinated action" astatine nan world level.

Brussels rings Washington

As a measurement to bypass nan G7 value cap, Moscow has deployed a "shadow fleet" of aged, poorly-kept tankers that usage obscure ownership and security structures.

The fleet has been accused of deceptive practices, including transmitting falsified data, turning disconnected their transponders to go invisible and conducting aggregate ship-to-ship transfers to conceal nan root of their barrels. The vessels are besides nether aggravated scrutiny for engaging successful sabotage against Europe's captious infrastructure.

The EU has truthful acold blacklisted complete 350 vessels belonging to nan "shadow fleet" and is consenting to grow nan catalogue successful nan coming weeks.

"These sanctions are biting. Russia's lipid and state revenues person fallen by almost 80% compared to earlier nan war. Russia's shortage is skyrocketing. Interest rates are prohibitively high. Inflation is connected nan rise, good supra 10%," von der Leyen said successful Tirana.

"We are fresh to do much to bring President Putin to nan speech table."

The Commission president's comments travel 2 days aft EU ambassadors endorsed nan 17th package of sanctions, which was constricted successful scope and lacked immoderate biting constraints connected Russia's economical sectors. The package had been successful nan useful for complete a period and is unrelated to caller negotiated events.

The "Coalition of nan Willing" initially established a Monday deadline for Russia to judge a impermanent ceasefire successful Ukraine, but nan time came and went without contiguous repercussions. There has not been immoderate denotation of a caller deadline since then.

"Pressure must proceed to emergence until existent advancement is made," Zelenskyy, who was besides coming astatine Friday's summit, said successful his intervention. "We request a afloat extremity to nan killing, agelong capable to springiness diplomacy a existent chance."

Meanwhile, successful Washington, Senator Lindsey Graham, a pro-Ukraine Republican, is gathering bipartisan signatures for a caller scheme to enforce 500% tariffs connected equipment from immoderate state that buys oil, state and uranium from Russia. If implemented, nan measurement could deed difficult immoderate European nations that are still reliant connected Moscow.

In Brussels, nan anticipation of hiking up tariffs connected Russian exports is gaining traction, arsenic waste and acquisition argumentation requires a qualified majority, alternatively than unanimity, to beryllium approved, which intends individual vetoes from countries for illustration Hungary and Slovakia would not apply..