Germany, France seek EU sanctions on Lukoil in new package

Germany and France have proposed adding Russian oil giant Lukoil and its trading arm, Litasco, to the European Union’s 19th sanctions package against Moscow, AFP reports, citing diplomatic sources.

According to the report, Berlin and Paris submitted their proposal to the European Commission last week.

Alongside Lukoil, the initiative seeks to target refineries in third countries involved in exporting Russian oil to the EU, as well as trading firms engaged in its distribution.

The proposal also calls for tougher measures against companies outside Russia that help circumvent existing restrictions, with a particular focus on combating cryptocurrency-based schemes in Central Asia.

Diplomats noted that discussions on the 19th sanctions package remain at an early stage, and it is not yet clear which measures will make it into the final draft. Approval will require the unanimous support of all 27 EU member states, with attention on Hungary, which may oppose the restrictions given its close energy ties with Russia.

By Khagan Isayev