EU approves 19th Package of Russian Sanctions including LNG Ban

The rotating Danish presidency of the EU announced on Wednesday that the EU countries had approved the 19th package against Russia, including a ban on Russian gas liquefied imports.

It said: "We are pleased to announce we just received notification from the remaining member that they can now lift their reservation on the 19th sanction package."

Slovakia is the last holdout after the EU agreed on the final text of the treaty last week. Slovakia's Prime minister Fico wanted

Assurances

The European Commission has released a statement on the high cost of energy and the need to align climate targets with carmakers' and heavy industries' needs.

"Therefore, a written approval procedure has been initiated by the Council." "If no objections have been received, tomorrow at 8am the package will be approved," it said.

The LNG ban is to be implemented in two phases: the short-term contracts end after six-months, and the long-term ones begin on January 1, 2027. The ban is a full year earlier than was planned in the roadmap of the Commission to reduce the EU's dependence on Russian fossil fuels.

The new package adds travel restrictions for Russian diplomats, and lists 117 additional vessels, mostly tanks, from Moscow's Shadow Fleet, bringing the number to 558.

(source: Reuters)