Headlines

Russia says EU sanctions will have dire consequences amid global squeeze

Published by Global Banking & Finance Review

Posted on April 24, 2026

2 min read

· Last updated: April 25, 2026

Add as preferred source on Google
Russia says EU sanctions will have dire consequences amid global squeeze
Global Banking & Finance Awards 2026 — Call for Entries

MOSCOW, April 24 (Reuters) - Russian Foreign Ministry spokeswoman Maria Zakharova said on Friday that restrictions on hydrocarbons in new EU sanctions against Russia would have dire consequences given

Russia says new EU sanctions will hurt developing countries

Impact and Response to New EU Sanctions on Russia

MOSCOW, April 24 (Reuters) - Russia said on Friday that new European Union sanctions on its oil and gas would hurt developing countries and the EU itself, and promised to retaliate.

Details of the 20th EU Sanctions Package

The EU adopted a 20th package of sanctions against Russia over Moscow's war in Ukraine on Thursday, including further restrictions on the transportation of Russian oil and gas and sanctions against oil producers and refineries.

Global Energy Crisis and Resource Shortages

"All this is happening amid a global energy crisis and resource shortages that are being acutely felt in most regions of the world," Russian Foreign Ministry spokeswoman Maria Zakharova told reporters at her weekly press conference.

Effects on Developing Countries and Food Security

"By attempting to further destabilize energy markets, Brussels is hurting both itself and developing countries, which are no longer able to afford energy at artificially inflated prices."

She said the sanctions also threatened food security as they included restrictions on fertilisers.

Russia's Pledge to Retaliate

"We will take retaliatory measures. They will be tough, designed in accordance with our interests," Zakharova added.

(Reporting by Filipp Lebedev; Writing by Mark Trevelyan and Anastasia Teterevleva)

Key Takeaways

  • The EU’s 20th sanctions target Russian energy, shadow‑fleet vessels, and impose future maritime and fertilizer-related restrictions, underpinning concerns over global supply tightness (finance.ec.europa.eu).
  • Slovakia and Hungary lifted their opposition only after Druzhba pipeline oil flows were restored, enabling passage of the sanctions package (hydrocarbonprocessing.com).
  • Despite Russia's claims, EU sanctions do not restrict food or fertilizer exports to developing countries; the bloc continues measures like Solidarity Lanes to support global food security (consilium.europa.eu)

References

Frequently Asked Questions

What impact do new EU sanctions have on Russia’s energy exports?
The new EU sanctions place restrictions on Russian hydrocarbons, which Russia says will worsen the current global resource shortage.
How might EU sanctions affect developing countries?
According to Russia, the increased energy prices from sanctions will make it harder for developing countries to afford energy resources.
What is the potential threat to food security from EU sanctions?
Russia claims EU sanctions also restrict fertilizers, posing an additional threat to global food security.
Which countries dropped their opposition to EU sanctions?
Slovakia and Hungary dropped their opposition to the new EU sanctions after oil flows resumed through the Druzhba pipeline.
How is Russia planning to respond to the EU sanctions?
Russia's Foreign Ministry stated it would take 'tough' retaliatory measures against the EU in response to the sanctions.

Tags

Related Articles

More from Headlines

Explore more articles in the Headlines category