The European Commission (EC) said the total ban on Russian liquefied natural gas (LNG) and further restrictions on the shadow fleet are the strongest sanctions yet on Russia's energy sector. The sanctions also target financial services and infrastructure, including cryptocurrency for the first time, as well as trade. The restrictions also target the services sector and strengthen anti-circumvention tools.

The sanctions provide for a ban on the import of Russian liquefied natural gas (LNG) from January 1, 2027 for long-term contracts and within six months of the entry into force of the sanctions for short-term contracts.

A complete ban on transactions with Rosneft and Gazprom Neft is imposed.

The EU is also targeting key third-country operators that provide Russia's revenue streams. This includes imposing sanctions on Chinese companies - two refineries and an oil trader - that are major buyers of Russian crude.

A ban on the import of liquefied petroleum gas (LPG) has also been imposed. This measure is aimed at circumventing sanctions, as some Member States have reported that this option has been used to circumvent existing restrictions on liquefied petroleum gas.

The shadow fleet blacklist includes 117 more ships, bringing the total number of Russian shadow fleet ships on the EU list to 557. They are subject to a ban on access to ports and a ban on receiving services.

The sanctions package also includes an expansion of the ban on port infrastructure, which will allow the EU to list ports in third countries that are useful to Russia's war effort.

The new measures also include additional bans on energy-related services, such as scientific and technical services such as geological exploration and mapping.

In the financial sector, five new Russian banks have been placed under transaction bans. No EU business will be able to do business, directly or indirectly, with any of the listed banks.

New bans have been imposed on Russian payment cards and the fast payment system"Mir" and SBP. The measures also include four new financial institutions in Belarus and Kazakhstan that use the Russian Payment System (SPFS).

The EU is imposing full sanctions on the developer of the widely used ruble cryptocurrency A7A5, the Kyrgyz issuer of the coin, and a major trading platform associated with it. For the first time, the new measures also ban the use of this cryptocurrency. In addition, the sanctions directly target a cryptocurrency exchange in Paraguay that has played a key role in circumventing existing restrictions.

EU operators are also prohibited from providing cryptocurrency services and certain financial technology services that allow Russia to develop its financial infrastructure and potentially circumvent sanctions.

In addition, transaction bans are being imposed on five third-country banks in Central Asia that support Russia's war economy and undermine the effectiveness of sanctions. EU operators are prohibited from conducting transactions with any of these financial operators.

On the trade front, the new sanctions expand export restrictions and bans to further disrupt and weaken Russia's military-industrial complex. They include individual sanctions against businessmen and companies that form part of the Russian military-industrial complex, and businessmen from the United Arab Emirates and China that produce or supply military and dual-use goods to Russia.

New export restrictions are being imposed on additional dual-use goods and advanced technologies, including metals for the construction of weapons systems and products used in the preparation of propellants, which are not already subject to sanctions.

New export bans have been imposed on goods such as salts and ores, construction materials, and rubber products.

The blacklist includes another 45 companies that directly or indirectly support the Russian military-industrial complex or are involved in evading sanctions. Among them are 28 companies registered in Russia and 17 companies registered in third countries - 12 companies in China, including Hong Kong, three companies in India and two companies in Thailand.

Sanctions are also aimed at Russia's special economic zones (SEZs). It is proposed to ban the conclusion of new contracts with all entities registered in certain Russian SEZs. In addition, two of these SEZs -"Alabuga" and "Technopolis Moscow" - will be subject to a ban, which will also apply to existing contracts.

As part of the new measures, the EU is introducing service bans that block Russia's access to advanced digital capabilities in the EU, including certain space-based services and artificial intelligence services. At the same time, the existing targeted ban on the provision of services to the Russian government will be strengthened. All services provided to the Russian government that are not prohibited will be subject to a new prior authorisation requirement, ensuring that all such activities are subject to strict scrutiny and monitoring.

The new measures prohibit reinsurance services for ships and aircraft of the Russian government or Russian persons for up to five years after their sale to third countries.

The new measures introduce an obligation for Russian diplomats travelling to the EU outside their country of accreditation to inform the relevant EU Member State in advance. EU Member States may require Russian diplomats to obtain authorisation to travel to their territory on the basis of a visa or residence permit issued by another country. This measure is intended to counter the increasingly hostile activities of intelligence services supporting Russia's aggression against Ukraine.

The EU is strengthening the accountability of those involved in the abduction, forced assimilation and indoctrination of Ukrainian children by adding 11 more individuals to the list.