The 27 European Union member states have implemented an 18th round of sanctions against Russia following its invasion of Ukraine. The sanctions aim to lower Russia's oil export revenues and further pressure its economy. Slovakia's Prime Minister, Robert Fico, initially delayed the decision but eventually consented, recognizing the necessity of EU solidarity. The sanctions package specifically targets the financial and energy sectors, reinforcing the EU's commitment to supporting Ukraine amid intensified Russian aggression. The price cap on Russian oil has been reduced to 15% below market value as part of the measures.
Kaja Kallas stated, 'The EU just approved one of its strongest sanctions packages against Russia to date. Each sanction weakens Russia's ability to wage war.'
German Chancellor Friedrich Merz remarked that the sanctions package targets banks, energy, and military industry, stating, 'This weakens Russia's ability to continue financing the war against Ukraine.'
Ukrainian President Volodymyr Zelenskyy welcomed the sanctions as 'essential and timely, especially now, as a response to the fact that Russia has intensified the brutality of the strikes on our cities and villages.'
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