In the context of broader efforts to reduce dependence on Russian energy resources, the EU's decision appears to be a logical step. However, its implementation will come with a number of challenges.

First, it is necessary to secure alternative sources of LNG supply to avoid shortages and rising energy prices. Second, tightening sanctions against the shadow fleet may provoke retaliatory measures from Russia and lead to a further escalation of tensions.

It is also important to consider the potential impact of these measures on European consumers, particularly on the most vulnerable groups, for whom access to affordable energy is crucial.

Overall, the EU's decision to strengthen sanctions against Russia's energy sector reflects European countries' determination to achieve greater energy independence and to increase pressure on the Russian economy in response to the situation in Ukraine. However, the effectiveness of these measures will depend on several factors — including the availability of alternative supply sources, the coordination among EU member states, and their willingness to respond to potential Russian countermeasures.

"The sanctions are having a real impact and are damaging the Russian economy," said Danish Foreign Minister Lars Lokke Rasmussen on Thursday.

The package — the 19th approved by the EU — had been delayed for several weeks due to opposition from Austria, Hungary, and Slovakia.

Yesterday, the United States also announced sanctions against two of Russia's largest state-owned oil producers, Rosneft PJSC and Lukoil PJSC, after a potential summit between US President Donald Trump and Russian leader Vladimir Putin was canceled. These sanctions were introduced a week after the United Kingdom also imposed measures targeting Russian oil giants.

The possible Trump–Putin meeting had alarmed European officials, who feared that Trump might take a more conciliatory stance toward Putin after months of publicly threatening Russia with sanctions.

"In addition to targeting Russia's energy sector, the EU sanctions package also applies to 45 companies that have helped Russia circumvent sanctions, including 12 firms in China and Hong Kong," the statement said.

Furthermore, the package extends the ban on transactions in Russian electronic payment systems and banks operating in third countries such as Belarus and Kazakhstan.

Technical Outlook for EUR/USD

Buyers now need to focus on reclaiming the 1.1620 level. Only a breakout above this mark will allow for a test of 1.1650. From there, the pair could climb toward 1.1700, although doing so without support from major market participants will be challenging. The ultimate upward target stands at 1.1725.

In the event of a decline, significant buying interest is expected around 1.1590. If large buyers fail to appear there, it would be prudent to wait for a renewal of the 1.1545 low or consider long positions from 1.1500.

Technical Outlook for GBP/USD

For pound buyers, the key objective is to break above the nearest resistance at 1.3360. Only this will open the way toward 1.3385, though moving higher may prove difficult. The ultimate upward target is in the 1.3420 level.

In case of a decline, bears will attempt to regain control near 1.3320. If successful, a break below this range would deal a serious blow to bullish positions and push GBP/USD toward 1.3280, with the potential to extend to 1.3250.