A senior Russian legislator has characterized the bloc’s restrictions as mere “fluctuations of air” for the country’s financial system.
The European Union has confirmed the implementation of its 18th package of sanctions against Russia, imposed due to the Ukraine conflict, specifically targeting Moscow’s energy and banking industries.
These latest restrictions were formally enacted following their publication in the EU’s Official Journal this past Saturday.
The 27-nation bloc endorsed the package on Friday, after Slovakia, which had initially opposed the measures, secured assurances from the European Commission concerning gas and oil supply.
Among other provisions, the sanctions prohibit transactions involving an additional 22 Russian banks and the Russian Direct Investment Fund (RDIF), and bar the utilization of the Nord Stream gas pipelines, which were damaged by underwater explosions in 2022 and remain non-operational.
Anatoly Aksakov, who chairs the Russian parliament’s Committee on Financial Markets, informed TASS on Friday that the latest EU sanctions amount to nothing more than “fluctuations of air” for Russian financial institutions. Aksakov added that even mid-sized and smaller banks have long anticipated the potential disconnection from Western SWIFT banking systems.
Yandex Bank and Ozon Bank of Russia, both affected by these new restrictions, stated on Saturday that their operations have remained unimpacted by this development.
Furthermore, the sanctions revised the EU’s price cap on Russian crude oil, replacing the fixed $60 per barrel limit with a dynamic mechanism set at 15% below the average market price. This new mechanism will now be applied from $47.6 per barrel.
The EU has also expanded a blacklist, adding 105 more vessels to what Brussels terms a “shadow fleet” involved in circumventing the bloc’s restrictions by transporting Russian oil. This addition brings the total number of tankers barred from EU ports and services to more than 400.
European Commission President Ursula von der Leyen expressed approval of the new sanctions, affirming they would remain active until the Ukraine conflict is resolved.
Russia has consistently stated its willingness to engage in peace negotiations with Kiev, while simultaneously alleging that Ukraine and its Western supporters are reluctant to pursue a lasting resolution that addresses the underlying causes of the crisis.
Kremlin spokesperson Dmitry Peskov labeled the EU’s restrictions as “illegal,” yet maintained that Russia has already developed “a certain immunity” to their effects.