EU drafts fresh sanctions targeting Russian oil sector after Trump diesel deal
The EU unveiled a draft sanction package that would blacklist dozens of Russian oil firms and related entities, responding to President Donald Trump's recent agreement to import Russian diesel.
On October 21 the EU's diplomatic service submitted a draft sanction list comprising 117 new entries aimed at cutting revenue streams for Russia's war against Ukraine. The core of the proposal focuses on the Russian oil industry, naming 31 refineries and export terminals across the country, from St. Petersburg to Sakhalin. Additional measures include 52 banks, two LNG-processing firms, a steel producer operating in Russian-occupied Donetsk, and 12 individuals tied to e-commerce sites Ozon, Wildberries and the Yandex search engine.
The EU also seeks to penalise companies in the United Arab Emirates, Oman, Singapore, Hong Kong and the Seychelles that have helped Moscow evade existing restrictions. The sanctions would impose asset freezes and prohibit EU entities from dealing with the listed parties, and are intended as a direct response to President Donald Trump's recent decision to import Russian diesel. After expert scrutiny by the 27 member states, the list will return to ambassadors for endorsement and then to ministers for a final vote.
Why it matters
The sanctions aim to limit Russia's ability to fund its war by targeting key oil and financial assets after the US softened its stance.
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