France and Germany propose that the European Union impose sanctions against the Russian oil company Lukoil as part of the 19th sanctions package against Russia, RTBF reports.
In their joint document, the countries emphasize that the sale of oil and gas is the main source of funding for Russia's war efforts against Ukraine.
Therefore, they consider it necessary to further focus on entities, companies, and third countries that are at the center of these hydrocarbon sales, including Lukoil – one of the last private groups in this sector in Russia.
This company, one of the leading Russian oil producers, also owns gas stations in the EU, particularly in Belgium.
Paris and Berlin also want to strengthen sanctions against third countries that facilitate the circumvention of existing sanctions, for example, by targeting refineries supplied with Russian oil, which is then resold within the European Union under a different origin.
The EU stopped all imports of Russian oil after the invasion of Ukraine. However, Slovakia and Hungary were exempted due to their significant dependence on Russian oil.
The document also recommends focusing more on the financial mechanisms that Russia uses to circumvent Western sanctions. It is noted that about 250 small banks are involved in financial transactions aimed at supporting Russia's war efforts.
