The European Union is finalizing its 19th sanctions package against Russia, targeting banks, oil trade, cryptocurrency platforms, and payment systems. According to reports, this could be the most comprehensive package since the start of the war in Ukraine – and it comes amid growing pressure from Donald Trump. Over the weekend, Trump warned that unless the EU imposes tougher measures, the U.S. will launch its own “extensive sanctions” on Russian oil exports.

New sanctions target crypto exchanges

Brussels is moving to sanction companies in China and India accused of helping Moscow bypass restrictions. Proposals include blocking Russian credit card systems and cracking down on crypto exchanges allegedly used to transfer funds tied to sanctioned Russian energy firms.

The package also addresses refined oil products from Russia that are processed in India and Turkey and then resold to Europe. While Europe’s reliance on Russian oil has fallen sharply from 27% before the war to just 3% last year, natural gas still flows into countries like Hungary and Slovakia.

Trump: “Europe must act”

Trump made it clear that oil and gas revenues fueling Putin’s war must be cut off quickly. “Europe must act,” he said, stressing that U.S. sanctions would only be effective if coordinated with European nations.

Meanwhile, Washington is pressuring G7 members to consider 100% tariffs on China and India, which continue to buy large volumes of Russian oil.

Hungary and India under pressure

Hungary, which secured exemptions and still imports Russian energy, faces a difficult position. Prime Minister Viktor Orbán has tried to diversify – signing a gas supply deal with Shell and negotiating in the UAE and Qatar – but Russian energy remains crucial.

India continues to import millions of barrels of Russian crude. The Spartan tanker, already sanctioned by the EU and UK, recently approached the port of Mundra. Operator Adani Ports confirmed that starting September, no vessel sanctioned by the EU, U.S., or UK would be allowed to dock – with Spartan being one of the last exceptions.

Broader geopolitical stakes

Trump is also leveraging ongoing talks on TikTok and trade tariffs to secure a stronger negotiating position with Beijing. The EU, however, is balancing between tightening pressure on Moscow and preserving trade ties with China and India.

The outcome of this sanctions round could significantly impact not only the Kremlin’s economy but also the balance between East and West in energy and digital finance.

#Eu , #russia , #TRUMP , #CryptoRegulation , #Geopolitics

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