The adoption of the 18th package of sanctions against Russia is expected "no later than next week," said German Chancellor Friedrich Merz during a joint press conference with Danish Prime Minister Mette Frederiksen.
The head of the European Commission, Ursula von der Leyen, previously announced new measures of the new sanctions package. Among them is a ban on the use of the "Nord Stream" pipeline, which was previously blown up and is currently not functioning, a reduction in the price cap on Russian oil from 60 to 45 dollars per barrel, and a ban on entry into European ports for another 77 ships, which the EU considers part of Russia's shadow fleet. There is also a plan to disconnect 22 more Russian banks from SWIFT.
As reported by Financial Times, four informed European officials, the European Union intends for the first time to apply a mechanism of secondary sanctions for supporting Moscow to banks from third countries, including two Chinese banks.
Two small regional Chinese banks, which are being considered as sanction targets, used cryptocurrency transactions to facilitate the import of goods subject to existing EU sanctions, according to two of these officials.
The decision is being made at a diplomatically delicate moment, as the EU prepares for an important summit with Chinese President Xi Jinping, which will take place in Beijing next month, so the inclusion of Chinese banks in the sanctions package is still under discussion.
The Chinese Foreign Ministry told FT that Beijing opposes "unilateral sanctions," adding that business between Chinese and Russian companies is "not directed against third parties and should not be interfered with." Beijing condemned previous EU measures aimed at Chinese companies accused of directly aiding Russia. It denies supplying weapons to Moscow.
In 2024, trade volume between Russia and China reached $245 billion, which is double the amount in 2020. Russia is also increasingly relying on the Chinese yuan for international financial transactions, moving away from the dollar and other Western currencies.
"Putin's ability to continue the war heavily depends on the support he receives from third countries," said Commission President Ursula von der Leyen on Tuesday. "Those who support Russia's war and its efforts to conquer Ukraine bear a great responsibility."
On the eve, Slovak Prime Minister Robert Fico stated that he would not support new sanctions: "Slovakia will not support the upcoming 18th package of sanctions against Russia if the European Commission does not present a solution to the crisis that Slovakia will face after the complete cessation of gas, oil, and nuclear fuel supplies from Russia." The adoption of the new sanctions package requires the consent of all EU member states.