On 23 October 2025 the European Union approved its 19th package of sanctions against Russia, banning liquefied natural gas (LNG) imports, tightening bank restrictions and blocking Russian use of cryptocurrency exchanges. The measures hit energy supply chains, financial partners and digital platforms used to dodge earlier controls. Treasury departments and derivatives markets feel the effects right away.
The 19th package adopted on 23 October 2025 speeds up Europe’s break from Russian gas. The LNG ban starts in January 2027, setting a clear timetable for market participants to adjust exposures and supply plans.
The package widens normal financial sanctions and, for the first time, names banks outside Russia. Two small Chinese banks appear on the list as helpers that let Moscow bypass earlier rules. Beijing answered fast—the Foreign Ministry and the Commerce Ministry summoned EU diplomats or called the move “wrong,” saying it harms the “lawful interests” of Chinese firms, adding a fresh risk that regulators will clash and that China will strike back with trade measures.
In the digital area, the package blocks Russian use of cryptocurrency exchanges by shutting the swap and transfer paths Russia uses to escape controls. A similar step appeared in the 16th package when the EU sanctioned the exchange Garantex, providing precedent for tighter action on evasion-friendly platforms.
By hitting energy, banking and digital assets at the same time, the EU tries to choke every flow that funds the Russian war economy. Immediate market ripples underscore the breadth of the new constraints.
Implications for markets and compliance
The January 2027 LNG ban creates doubt in forward contracts and in the gas price curve. Traders must mark futures next to energy spread positions to the new reality, recalibrating hedges as liquidity and basis relationships adjust.
Firms that deal with banks tied to Russian cross-border flows must redo due diligence checks and cut exposure so they do not fall under secondary sanctions. Counterparty mapping and onboarding controls need an immediate refresh.
The ban on evasion-friendly exchanges shrinks venues where users swap fiat for crypto without full identity checks. This raises the chance of further regulatory action and dries up liquidity in ruble pairs as well as ruble-linked stablecoins.
The LNG ban enters into force in January 2027. Until then, traders and treasury teams must reset hedges and tighten counterparty checks to curb liquidity or compliance risks.
