EU adopts new sanctions to curb Russian oil and gas revenue

European Union leaders on Thursday formally adopted a new package of sanctions aimed at reducing Russia’s oil and gas revenue, joining recent measures announced by the United States as the nearly four year war in Ukraine continues. The moves, announced as Ukrainian President Volodymyr Zelensky met with two dozen European leaders in London on Friday, include a ban on imports of Russian liquefied natural gas and measures targeting oil exports, aging tanker vessels known as the shadow fleet, and elements of Russia’s financial sector.

The sanctions build on a U.S. decision this week to impose penalties on Russia’s two largest oil companies, Rosneft and Lukoil, a step U.S. officials say is intended to choke off funds that finance Moscow’s military campaign. U.S. authorities have said the measures are due to take effect on November 21. Zelensky used the London meetings to press for broader action, urging Washington to extend restrictions beyond the two firms to the whole Russian oil sector and to provide long range missiles that Ukraine says it needs to strike deeper into Russian territory. "We have to apply pressure not only to Rosneft and Lukoil, but to all Russian oil companies,"...