The European Union has enacted its 18th sanctions package since Russia's invasion of Ukraine, focusing on critical sectors. This package features a price cap on Russian oil exports, specifically lowering the G7's cap for Russian crude oil to $47.6 per barrel. Additionally, the sanctions impose a ban on transactions related to Nord Stream pipelines and target shadow ships thought to be evading existing sanctions. The EU's commitment remains firm, with assurances that pressure on Russia will persist until the cessation of hostilities in Ukraine.
We are striking at the heart of Russia's war machine. Targeting its banking, energy and military-industrial sectors and including a new dynamic oil price cap.
The sanctions package will lower the G7's price cap for Russian crude oil to $47.6 per barrel.
The move to ban transactions using Nord Stream aims to prevent the potential resumption of such supplies.
The EU will keep raising the pressure until Russia ends its war.
Collection
[
|
...
]